FThese were the words with which the Bank of England’s Monetary Policy Committee described its decision to hold interest rates again. The election? She said it certainly, positively, had nothing to do with the decision.
With the bank in limbo, there were none of the usual comments or press conferences accompanying the decision, so there is more guesswork than usual as to when the long-awaited interest rate cut will come.
What we do know is that the vote went seven to two in favor of remaining still; Dave Ramsden, one of the bank’s deputy governors, joined interest rate campaign chief Swati Dhingra in calling for an immediate cut. The other seven have a “range of views” on what should happen next and how restrained the bank’s position should be.