Luke Bartholomew, a senior economist at Aberdeen Standard Investments, made this comment following today’s Bank of England (BoE) meeting.
The BoE has decided to maintain the rates and the volume of purchases, despite the only vote against Andrew Haldane, the Bank’s chief economist.
The decision was as expected, with Haldane once again expressing concern about the inflation outlook by voting in favor of reducing the size of government bond purchases. It will be very interesting to see who will replace Haldane as chief economist after his imminent departure. The Bank is likely to return to a more relaxed tone on the transitory nature of any inflationary pressure once Haldane’s voice and vote have passed away..
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