Wednesday, February 21, 2007

2 members wanted rate hike to 5.5%

MPC members Andrew Sentance and Tim Besley opted to hike interest rates to 5.50 pct

The Bank of England's rate-setting body - the MPC voted by a 7-to-2 margin to keep its benchmark rate unchanged at 5.25 pct at its policy deliberations earlier this month, minutes of the meeting revealed today. The vote to leave the base rate unchanged at a five-and-a-half-year high revealed a divergence of opinion within the nine-member Monetary Policy Committee.

Posted by converted lurker @ 10:46 AM (476 views)
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5 thoughts on “2 members wanted rate hike to 5.5%

  • 2 members don’t have BTL portfolios, 5 members do.

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  • The ‘wait and see’ BS kinda suggests they’re not sure what they’re doing or their policy is to control inflation over the very short term.

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  • Albertini Albertino says:

    Did Doveid Blanchflower vote for no change?

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  • I like the way the headlines have been written in most papers implying that the vast majority of MPC members don’t want a rate rise, where in fact it just a majority who don’t want two rises consecutively. None voted for a cut. It essentially means that the chances of another hike in the next couple of months is pretty high.

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  • dohousescrashinthewoods says:

    Ha ha ha! I like it.

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