MPC to hold fire on rates and QE

Inaction will be the name of the game this week at the April meeting of the Bank of England’s Monetary Policy Committee (MPC), according to economists. The MPC is unlikely to either move the interest rate from its current 0.5 per cent or add to the £200bn already spent on quantitative easing, after all nine members voted to keep the status quo at the March meeting. “There seems little, if any, reason for the MPC to adjust monetary policy and several good reasons for them to stay firmly in “wait and see mode’,” said Howard Archer, economist at IHS Global Insight.