Since the financial crisis, monetary policy has been defunct as a tool for manipulating economies over the long term. The UK is no exception, and the Monetary Policy Committee are left with little choice but to leave rates on hold. At a time when there is so much uncertainty in the economy around investment it would be foolhardy to increase rates as it sends precisely the wrong message to business about where our economy could be heading. Since none of us really know what will happen in the coming months, still less after October 31st, doing nothing is the safest thing on the precautionary principle alone.