The Financial Outlook for Personal Investors: What does the MPC's "studious inactivity" imply?

Russ Mould, Investment Director of A J Bell, looks at the Bank of England's Monetary Policy Committee's decision to take no action on interest rates. He wonders if their "studious inactivity" is likely to prove wise and that all the evidence of mounting inflationary pressure will indeed be transient. Will we get the Goldilocks economy or has the horse already bolted through the open stable door? There must be a tipping point with interest rates in regard to equities, he says, but where will it be?