BoE turns attention to risk-free rate as markets push out expectation of hike

Bank of England
The Bank of England

Economists are increasingly expecting major central banks to delay rate hikes until later in 2016, which itself could be a form of stimulus, the Bank of England (BoE) noted as it kept rates on hold today (October 8).

As in other recent meetings, the monetary policy committee (MPC) was split 8-1 in favour of holding interest rates at 0.5%. Ian McCafferty was once again the sole dissenting voice, calling for a 25 basis-point hike to counter the effects of rising labour costs.

Short-term interest r

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