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2 MPC members didn't sign up to "further tightening" line

BOE
  • There were two MPC members who were not prepared to sign up to the line that "some further degree of tightening in monetary policy might still be appropriate in coming months." Hence, the adjustment of that statement to add in "most members".
  • There has been no confirmation who those two members are, but we note that Cunliffe voted for unchanged rates in March (so he is a very likely candidate). Tenreyro dissented in favour of no change to Bank Rate in December.
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