Saturday 17 March 2018

Bank of England, on Carney policy debut, worries about yields

The Bank of England, at its first policy meeting under Mark Carney, took no new concrete steps to boost the economy on Thursday but said a recent rise in bond yields was not warranted by the state of the British economy.

The bank's Monetary Policy Committee took the unusual step of issuing a statement even though it made no new policy moves and said the "significant upward movement" in yields would weigh on its expectations for growth and inflation.

"In the Committee's view, the implied rise in the expected future path of Bank Rate was not warranted by the recent developments in the domestic economy," the statement said.


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