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| Version 0 | Version 1 |
|---|---|
| No MPC support for more stimulus | No MPC support for more stimulus |
| (about 1 hour later) | |
| The Bank of England's monetary policy makers voted unanimously to keep interest rates and quantitative easing (QE) on hold this month. | The Bank of England's monetary policy makers voted unanimously to keep interest rates and quantitative easing (QE) on hold this month. |
| Minutes of the Monetary Policy Committee's September meeting also showed that no members saw a case to expand economic stimulus measures. | Minutes of the Monetary Policy Committee's September meeting also showed that no members saw a case to expand economic stimulus measures. |
| That suggests the MPC sees the UK economic recovery strengthening. | That suggests the MPC sees the UK economic recovery strengthening. |
| Two members of the MPC had previously suggested an expansion of QE may be required to aid the economy further. | |
| They have now revised their views. | |
| "Over the month the evidence was consistent with a recovery at least as strong as that expected at the time of the August Inflation Report," the MPC minutes read. | "Over the month the evidence was consistent with a recovery at least as strong as that expected at the time of the August Inflation Report," the MPC minutes read. |
| "Were the recovery to falter, the case for further asset purchases would be stronger. But no member judged that further stimulus was appropriate at present." | |
| The committee's unanimous decision to keep interest rates at 0.5% was not a surprise. | |
| A new policy of forward guidance was launched in August under new governor and MPC chairman Mark Carney, with the bank pledging to keep rates low at least until unemployment falls to a rate of 7%, assuming inflation remains under control. | |
| The Bank's broader target is still to keep the rate of inflation at 2%. | |
| In response to the minutes, the pound rose against other currencies. Sterling climbed 0.4% against the dollar to $1.5968. |