MPC to wait for Inflation Report before doing more

The Monetary Policy Committee (MPC) has made it fairly clear that it will wait until November before deciding whether to extend its quantitative easing (QE) programme again. This will coincide with the completion of the current set of asset purchases and the publication of the next Inflation Report. October’s meeting will therefore be something of a non-event. But unless the recovery dramatically picks up pace, a further extension to QE looks probable later this year.