No Sign Of Movement From Old Lady's Bowels

08/09/11 -- There hasn't been much movement from within the bowels of The Old Lady of Threadneedle Street lately, with the Bank of England leaving UK interest rates on hold at 0.50% again today for the 30th month in succession.

Despite pleas from the Institute of Directors warning of "dire consequences" in the form of lost taxes without a further GBP50 billion of QE, the BOE have left that on hold too. I think they should try slipping Merv the Swerve some senna pods in his tea next month.

The pound is up from early lows on the news, poking it's little tortoise-like head up above 1.14 against the euro and 1.60 versus the dollar.

It's a thrill a minute isn't it?