Why the Bank changed its mind

UK - Mervyn King will have some explaining to do when he presents the Bank of England's inflation report next week writes the FT in London, 3 August.

The deputy governor once said that monetary policy should create no surprises. But yesterday's quarter-point interest rate cut to 5 per cent sent a minor shock wave through the City of London as analysts raced to revise their predictions.

Last month the Bank's monetary policy committee voted 8-1 to hold its rate unchanged and indicated in the minu

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: