Tomorrow’s meeting of the Monetary Policy Committee almost certain to produce no change in monetary policy, no statement and little of interest. The Bank of England’s interest-rate setting committee made it clear in November it would continue purchasing another £25bn assets under the quantitative easing programme until the end of January. The markets expect the flow of QE to end at that point.

While the February meeting will be interesting because the MPC has to decide whether to continue purchasing gilts – the Bank has bought £190bn so far – if it chooses to stick at the total of £200bn, we are likely to see little action until after the election. Read more