On 26 August the Monetary Policy Committee unanimously held its policy rate at 1.00%. It said current rates are "appropriate" for supporting recovery, but it did not rule out cuts if a crisis hits. Officials said a cut now would not be worth the cost, and that transmission to lending rates is limited. They also discussed hikes and judged them unwise given a fragile economy. The committee expects a slow recovery and wants fiscal and targeted financial measures to do the heavy lifting. For a small business: don't count on cheaper loans soon; budget borrowing costs at current levels and watch for targeted support programmes.