BULLET: BOE Minutes: MPC Votes 7-2 To Keep Bank Rate.........>

BOE Minutes: MPC Votes 7-2 To Keep Bank Rate Unchanged 

-BOE MPC: MPC Votes 9-0 To Keep Stock Of Gilts, Corp Bonds Unchanged

-BOE MPC: McCafferty, Saunders Vote For Immediate 25bp Bank Rate Hike

-MAJORITY MPC: Value of Seeing How Data Unfolds Exceeds Costs of Waiting 

-McCafferty, Saunders: Surveys, Labour Market Warrant Hike Now 

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The MPC voted 7-2 to keep Bank Rate unchanged at 0.5% at its May meeting 

but was unanimous in keeping the stock of total asset purchases at 

stg445bn. Like March, McCafferty and Saunders voted for an immediate 

25bp hike, citing strength among surveys and labour market data while 

assessing the weak Q1 GDP data as "erratic". For the other 7 members, 

"there was value in seeing how the data unfolded over the coming months" 

with the cost of waiting seen as "modest". The level of slack in the UK 

economy was again seen as "very limited" and the MPC retained the 

guidance that future tightening would "gradual" and "limited".