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Free AccessBULLET: BOE Minutes: MPC Votes 6-3 To Keep Bank Rate.........>
BOE Minutes: MPC Votes 6-3 To Keep Bank Rate Unchanged
-BOE MPC: MPC Vote 9-0 To Keep Stock Of Gilts, Corporate Bonds Unchanged
-BOE MPC: Haldane, McCafferty, Saunders Vote For 25bp Bank Rate Hike
-BOE MPC: New Guidance on QE; Aims to Reduce Stock When Rate Hits 1.5%
-BOE MPC: Judgement on Q1 Data Dip "Broadly on Track"; Expect Q2 Pickup
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The MPC voted 6-3 to keep Bank Rate unchanged at 0.5% at its June
meeting but was unanimous in keeping the stock of total asset purchases
at stg445bn. Three members voted for an immediate 25bp rate hike, with
Andy Haldane dissenting for the first time - the first dissenting vote
for a hike by a Bank insider since 2011. The majority view was that the
May QIR projections were "broadly on track" but that there was still
value in waiting and seeing. The very soft Q1 GDP data were still seen
as erratic and a Q2 recovery is expected. New guidance revealed the QE
unwind will start when Bank Rate is around 1.5% rather than around 2.0%.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.