BOE: Instant Answers March 21 Meeting - Bank votes 8-1 to Hold

Instant Answers From March 21 meeting

1.    Was the Bank Rate changed, and if so by how much? No - held at 5.25% 

2.    Number of members voting for cut? 1- Dhingra, 25bps cut

3.    Number of members voting for unchanged rate? 8 

4.    Number of members voting for a hike? Zero  

5.    Did the MPC say the next move in monetary policy was likely to be a cut? No 

6.    Did the MPC (or the majority of MPC) again say Bank Rate is likely to “remain sufficiently restrictive for sufficiently long”? Yes

7.    Did the MPC (or the majority of MPC) again say monetary policy needs to be restrictive for an extended period? Yes

8.    Did the MPC leave its guidance paragraph materially unchanged versus the February policy statement? Yes

In an attached statement Governor Bailey said: "We're not yet at the point where we can cut interest rates, but things are moving in the right direction".