The Bank of England have left interest rates on hold and decided against extending the existing £325 billion program of Quantitative Easing (QE).
Despite the International Monetary Fund (IMF) calling for a cut in UK interest rates the decision to leave rates at 0.5% was hardly a surprise.
‘Wait & see’
The IMF also suggested that the Bank should extend the program of QE and some observers had predicted that this advice would be followed.
However it seems that the Bank has decided to adopt a ‘wait and see’, monitoring both inflation and the wider economy, before making their next move. At least one ...