The minutes of the Bank of England Monetary Policy Committee meeting on September 7-8 showed policymakers are ready to pump more money as growth falters in Britain and the eurozone debt crisis escalates. This is how economists reacted:
Despite Bank of England's Mark Carney confident overtones that policy-makers must focus on economic developments rather than worry about potential market volatility as they consider exiting stimulus, it appears the esteemed central bank is communicating 'forward guidance' on its money-printing expectations over the next decade... BANK OF ENGLAND SIGNS 10-YEAR BANKNOTE PRINTING CONTRACT WITH DE LA RUE... starting in April 2015 (when US rate hikes might start?) Carney warns:
LONDON — The Bank of England overhauled its policy strategy on Wednesday, saying it planned to keep interest rates at a record low until unemployment falls to 7% or below, something unlikely for another three years.
Barely a month after Canadian Mark Carney took over as governor, the central bank said it would keep interest rates at 0.5% unless inflation threatened to get out of control or there was a danger to financial stability.
Bank of England policymakers agree that Britain's stalled economy will fail to pick up in the current fourth quarter, according to minutes of their last meeting published on Wednesday.The forecast comes as the BoE minutes showed that members of the Monetary Policy Committee voted unanimously at the October meeting to pump £75 billion (£119 billion, 86 billion euros) into the British economy.The MPC also voted 9-0 earlier this month to keep British interest rates at a record low 0.50 percent -- where they have stood since March 2009.