All nine members voted for no change, even though inflation is currently at 3.5%, well above the 2% target. The MPC was also unanimous in keeping the £200bn quantitative easing (QE) programme unchanged.
It does not look like they worry about the fact that inflation is above savings rates. The notes of the meeting said inflation was set to remain above the 2% target for some months to come, and that there were certain risks from the weak pound which has now fallen in value by 25% since 2007. So they care less about inflation and care even less about savers.
How about a demonstration at the next Bank of England meeting? 7th April.
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