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Boe Mpc Maintain 3-Way Policy Split, See Inflation Risks

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LONDON, Dec 22 (Reuters) - The Bank of England's Monetary Policy Committee retained its three-way split at December's policy meeting, but a growing number of policymakers are worried about rising medium-term inflation risks, central bank minutes showed on Wednesday.

The breakdown of votes at the BoE's Dec. 8-9 meeting was the same as the previous two months' meetings.

Adam Posen called for an extra 50 billion pounds more quantitative easing and Andrew Sentance urged interest rates to rise to 0.75 percent from 0.5 percent, while the other 7 MPC membe rs voted for policy to stay unchanged.

However, a growing number of policymakers were concerned about rising inflation risks, albeit not sufficiently to justify changing policy, especially given the risk of contagion from the euro zone's financial instability.

The minutes said that "most" of those MPC members who thought the current policy stance appropriate "considered that the accumulation of news over recent months had probably shift ed the balance of risks to inflation in the medium term upwards".


It's coming...

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3 WAY SPLIT = confusion

No wonder every piece of news is "unexpected." They are clueless and probably in the same boat as every other economist except that they have an overriding VI: Keep HPI on the move or the whole lot folds like a pack of cards.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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