“A change is going to come and we are going to deliver it,” the prime minister said. Was this a signal to the Bank of England not to cut interest rates when it next meets in November? Economists argued from the outset about whether the mix was right, with some calling for tighter monetary policy balanced by less austerity. First, if the Bank wants to do any more QE it will have to secure the Treasury’s permission. That would make the need for more QE redundant and reduce the need for further interest rate cuts.

Source: The Guardian October 06, 2016 17:04 UTC