Bank of England split 3 ways again

28 July, 2011


The Bank of England did not move nearer to further Quantitative Easing in their November meeting, according to their minutes released today.

7 of the 9-strong committee voted for no change, with one voting for more QE, and one voting for an interest rate rise – exactly the same result as October.

The Pound gained a small amount of value after the minutes were released.

Meanwhile EU finance ministers are meeting to discuss a possible bail-out of the Irish economy. The Euro could be affected if the Irish government asks for help, although when a rescue package was announced for Greece earlier this year, the Euro strenghtened (became more expensive) as markets saw the bailout as helping the single currency zone.