MPC noted 'green shoots' before rate hold

Details of the MPC's recent meeting show policymakers acknowledged "encouraging" news in the market and spoke of its potential to boost confidence. However, members agreed the medium term outlook had not changed since their May forecasts. "Overall, the risk of a continued sharp contraction in output in the near term had receded somewhat," the minutes read. "However, there was no reason to conclude that the medium-term outlook for the economy, and thus inflation, had changed materially since the Inflation Report had been finalised." The BoE's key interest rate has been at 0.5% since ...