Despite economic forecasts looking fairly bleak and strong arguments for both raising or lowering interest rates, The Bank of England has chosen to ...do nothing.
Reuters is reporting that a meeting of the Monetary Policy Committee chose not to raise or cut interest rates, despite increasing inflation levels and sluggish growth.
Some kind of leadership - one way or another - from The Bank of England at the moment would send out a strong signal of intent. After all, it's this kind of thing that defines them. To do nothing at all, is not as the old quote suggests, the most difficult thing of all. It is cowardice.
