Eyes turn to November action as BoE holds rates again

The Bank of England has held interest rates at 0.5% for the 43rd consecutive month and kept its bond purchase target at £375bn.

The decision was widely expected by economists, though expectations are rising policy may be eased once again in November after construction figures and other data disappointed this week. "The MPC will wait until November's meeting for a serious review of policy, at which point it will have completed its current QE programme," Investec Securities' Philip Shaw said this week. The Bank's most recent move came in August, when it extended its quantitative easing programme by £50m to £375m in a bid to pull the UK out of its latest recession. "We still expect more asset purchases to be a...