Weekly Economic Briefings > Uk Weekly Economic Briefing

The MPC implemented a four-pronged package of monetary stimulus at the August meeting. The most interesting of the measures was the introduction of the Term Funding Scheme (TFS), which represents an attempt to ensure that the 25bp cut in Bank Rate is passed through to borrowers.The package was towards the upper end of the range of what could have realistically been anticipated and reinforces our confidence in our above-consensus forecast for GDP growth. The baton now passes to the Chancellor who continues to hint at a loosening of fiscal policy in the Autumn Statement.