November 23, 2016/Cordros Report
The MPC’s latest decision to leave policy on hold is no surprise. 13 out of 15 analysts surveyed by Bloomberg predicted that the Committee would leave its stance unchanged. Whilst the Committee did not announce or signal imminent policy action, sadly — against our expectation — it was also conservative with details of its assessment of the effectiveness of its tightening stance on developments in the foreign exchange market thus far. However, members’ personal statements from the meeting in September published on Monday provided useful insights.
MPC Leaves Policy Unchanged–An End to Tightening in Sight
