Indeed, it may only have been a reluctance to surprise the markets that stopped the committee from cutting rates (last week).
More Quotes from Jonathan Loynes:
Italy is going to remain at the back of the performance tables. We should see a pick-up in growth this year, but it is coming off a very low base. It is a cyclical recovery rather than any kind of real structural improvement.Jonathan Loynes
We are not wholly convinced that this is the start of a period of stronger and more healthily balanced economic growth, however.
Jonathan Loynes
The sharp pick-up in inflation pressures evident in December's data is likely to be temporary and should not concern the Bank of England too much.
Jonathan Loynes
The ECB may feel that the time is right to conclude that the risks to growth are now more equally balanced. Without a corresponding softening of the perceived upside risk to inflation, this would be seen as a strong signal that it is preparing to lift rates further.
Jonathan Loynes
The stronger tone of recent data was clearly enough to prompt most members of the MPC to vote to keep interest rates on hold today, but we would not be surprised if the decision was rather closer than the markets seemed to think.
Jonathan Loynes
Interest rates are very likely to remain on hold for a seventh consecutive month in March, it being the only month in which the MPC has never changed rates in either direction since taking control in 1997.
Jonathan Loynes
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