Bank of England cut interest rates to 0.25 per cent in August 2016 and introduced a package of measures to provide extra stimulus YUI MOK/PAThe Bank of England should be laying the groundwork for an increase in interest rates to withdraw some of the stimulus launched after last year’s Brexit vote, The Times shadow monetary policy committee has said. Four of the nine panel members have called for an immediate quarter-point rate increase this month to 0.5 per cent and three others have urged the Bank to prepare the markets for a rise in the months ahead. Another member is concerned that the Bank needs to be publicly discussing the side effects that might accompany an eventual unwinding of its £435 billion quantitative easing programme. The Bank’s MPC reveals its decision at noon tomorrow. It is expected to hold rates at 0.25 per cent and leave QE unchanged.

Source: The Times September 12, 2017 16:07 UTC