Analysis Reeves will get little relief from Bank's two decisions

'Gradual" and "predictable" are watchwords the at the Bank of England. But for Rachel Reeves, a more activist approach could have helped.

- Richard Partington

The central bank had two pieces of bad news for the chancellor: borrowing costs would be left unchanged, while the Bank would proceed with a plan to sell billions of pounds in UK government bonds. Both decisions had been widely expected in financial markets. But an alternative outcome was not outside the realms of possibility.