CBI reaction to Bank of England's MPC decision

Published on Thursday, 08 March 2012 12:56
Posted by Matthew Abbott

The CBI responded to the announcement from the Bank of England’s Monetary Policy Committee (MPC) that it will keep interest rates on hold and the size of the asset purchase programme unchanged.

Ian McCafferty, CBI Chief Economic Adviser, said:

“This decision was expected as the current round of asset purchases is set to run until May.

“Since the MPC has been signalling that the current policy stance is broadly appropriate, it appears that the economic climate would have to deteriorate to prompt a further extension of QE.

“Nevertheless, with economic conditions fragile and the level of uncertainty high, monetary policy decisions are still likely to be finely-balanced.”

Source: CBI

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