Productivity still a puzzle for Bank of England MPC
The Bank of England's Monetary Policy Committee (MPC) today published the minutes of its most recent meeting – showing a continued puzzlement over the likely growth in employment and productivity over the coming months.
The meeting – which also marked deputy governor Paul Tucker's last before he leaves the Bank at the end of this month – kept interest rates and asset purchases the same, given little change in the outlook for inflation.
Unemployment had fallen in the three months to July to 7.7%
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