Comments from the Bank of England
- The Bank of England should re-assess its monetary policy once the unemployment falls to 7%.
- The end of recovery for economy is in prospect and expansion is due to start.
- Sees some spare capacity at higher end of BOE range (the amount of excess capacity within an industry is a signal of both the health of that industry and the demand for the products it produces).
- Interest rate rises will be gradual and limited.
- Recent data suggests slowdown in unemployment drop.
- The Bank of England won’t be influenced in monetary policy decisions by forthcoming UK elections next year.