Central banks on hold

The Bank of England opted to stall its quantitative-easing programme at £175 billion on Thursday.

The Bank's decision was largely expected. But some analysts predicted the Bank would announce a change to the rate it charges banks to hold deposits in its covers after Mervyn King, the governor, indicated that the Bank was considering such a move at the August Inflation Report press conference. King's comments have driven yields on short-dated gilts, which banks would buy if such a move was imposed

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