Well, if credit to households and consumers have not just yet gotten back to normal levels, and the rate is near zero, what is the BOE to do?
They can't be worried about internal inflation? Apparently, they report low inflation for September- CPI of 1.1% and low expectations.
The VAT reversal may have played a part in the inflation rate as it is, but certainly investor and consumer appetite has not been wet as yet. Maybe the X-mas may be better news for businesses!
BOE Report
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