With the Monetary Policy Committee (MPC) likely to wait for February’s Inflation Report before reviewing its asset purchase programme, this week’s meeting should be a non-event. In any case, the Committee’s decision to extend its quantitative easing (QE) programme by only £25bn at November’s meeting suggested that this could be as far as QE goes. That said, recent comments by MPC members have left the door open to further policy stimulus – whether through more QE or cutting the rate on banks’ reserves.
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