IoD reaction to MPC decision

Dated: 13 January 2011

Commenting on the MPC’s decision to keep interest rates and quantitative easing (QE) on hold, Graeme Leach, Chief Economist at the Institute of Directors, said:

“The Bank of England remains caught between a rock and hard place. Despite substantial spare capacity in the economy, inflation remains above target and rising, but at the same time anaemic monetary growth is actually screaming a need for more Quantitative Easing (QE). So the future of monetary policy remains highly uncertain, but we think on balance there will be a further extension of QE over the coming months.”

ENDS

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Edwin Morgan
Media Relations Manager
Institute of Directors, 116 Pall Mall, London SW1Y 5ED
Tel: +44 (0)20 7451 3392
Mob: +44 (0)7814 386 243
Email: edwin.morgan@iod.com
Website: www.iod.com/policy

Notes to editors

  • The IoD (Institute of Directors) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with upwards of 45,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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