Monetary Policy Committee holds first meeting of 2013
Date published: 09 January 2013
Christian Spence, Research Manager at Greater Manchester Chamber of Commerce
The Bank of England’s Monetary Policy Committee is holding its first meeting of 2013 on 9 and 10 January.
Christian Spence, Research Manager at Greater Manchester Chamber of Commerce, said: "We expect that they will hold interest rates at 0.5% and quantitative easing at £375bn.
"Whilst we are expecting the GDP figure for the fourth quarter of 2012 to be weak and possibly negative, there will be renewed calls for further asset purchases in the near future. We hold the opinion that the Bank should not commit to any further asset purchases in their current form as the risk of continued inflation throughout 2013 remains high.
"Consumers continue to be squeezed by real-terms wage decreases and so consumer spending will remain under pressure for the rest of the year. We made many calls for the quantitative easing programme to be used to invest directly in regional programmes, particularly infrastructure, and we would urge the Committee to focus its attention on the wider economy outside London and the South East and seek to drive growth within the regions as a matter of priority."
Do you have a story for us?
Let us know by emailing news@rochdaleonline.co.uk
All contact will be treated in confidence.
Most Viewed News Stories
- 1Snow and ice warning for Rochdale & Greater Manchester
- 2Century-old town centre pub could soon become apartments
- 3Former Nutters restaurant will be transformed into an Albert’s
- 4Detectives make an arrest and appeal for more information following fatal stabbing in Rochdale
- 5Suspected shoplifter arrested with public’s help
To contact the Rochdale Online news desk, email news@rochdaleonline.co.uk or visit our news submission page.
To get the latest news on your desktop or mobile, follow Rochdale Online on Twitter and Facebook.