BoE ‘monitoring developments’ amid market ructions
Many analysts had predicted early policy action from central bank
The Bank of England put out an unusual statement today (September 26), noting it was “monitoring developments”, as markets suffered intense volatility following a government budget announcement.
However, in the statement – issued just after local stock markets closed – governor Andrew Bailey stopped short of announcing an early meeting of the monetary policy committee. Earlier in the day, some analysts had predicted the BoE might hike rates at an unscheduled meeting.
“The role of monetary
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