Bank of England - No QE yet

The Bank of England has kept Bank rates at 0.5% yesterday, no surprise at all but there was maybe a 30% chance that they could have initiated a further round of Quantatitive Easing (QE), which didn't happen.

With the UK slipping into what is probably going to be a short technical, maybe even a three month recession recently, there was a possibility they might have reached into their bag of tricks but they are keeping their powder dry.

Despite the negative effect that the French and Greek elections have had within the Eurozone and with the Spanish Government having to bail out a large local bank, the markets are relatively calm and the Old Lady doesn't want to use one of the few weapons available, if it doesn't have to.