Brexit, the Bank and the Pound

The Bank of England held its Monetary Policy Committee (MPC) meeting last week, and elected by an 8-1 vote to leave monetary policy unchanged. Given that this was the first MPC meeting since the referendum, this might be thought to be something of a surprise. A more sober consideration of the Bank’s position would however show that there is every reason for the MPC to stay their hand for the moment.

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