Wednesday, June 22, 2011
‘Balance’ Swung Back
Former Goldman Sachs economist Ben Broadbent voted with the majority of the Monetary Policy Committee (MPC). It means he has broken with the voting record of his more hawkish predecessor, Andrew Sentance, who had been backing a half-point rate rise since February. Mr Broadbent was an "unknown quantity" when he was appointed, according to BBC economics editor Stephanie Flanders, with much speculation over which way he would vote. But with his hand now revealed, the balance of the committee has swung back towards the doves.