Operation of monetary policy

Quarterly Bulletin 1995 Q4
Published on 01 December 1995
  • Official interest rates remained unchanged during the third quarter.
  • Markets revised down their expectations of UK inflation in the short term, and stopped anticipating an early increase in interest rates. But market expectations of inflation in the longer term remained well above the Government’s target.
  • Sterling was relatively unaffected by sharp movements in the foreign exchange markets during the quarter, and appreciated slightly on balance.
  • Gilt sales of £6.5 billion were made, but the September auction result was disappointing.

PDFOperation of monetary policy

Other Quarterly Bulletin 1995 Q4 articles

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