Chief Economist’s Weekly Brief – Next time, I promise.

The Bank of England surprised last week by not cutting interest rates. The accompanying statement showed that most members expect to loosen monetary policy at August’s meeting. But given that expectation it left a perculiar question in its aftermath. If then, why not now? Continue reading

Chief Economist’s Weekly Brief – Decision time

crossroads

With five weeks to go before the EU referendum the campaigns are now in full swing and scrutinising every piece of data for signs of Brexit nervousness. Yet there’s still a lot going on that isn’t driven by our domestic political agenda and the Bank of England conceeded that the noise is making its job of interpreting the data more difficult.  Continue reading