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MNI BOE WATCH: Set For March Hold, Mann's Vote The Wildcard

The BOE's Monetary Policy Committee looks sure to hold in March although the vote split is uncertain.

MNI (LONDON) - The Bank of England is virtually certain to keep its policy rate on hold at 4.5% at its March meeting this week, with guidance adopted in February for "a gradual and careful approach" to further easing likely to stay in place.

The Monetary Policy Committee voted seven-to-two for February’s 25-basis-point cut, with two members, Swati Dhingra and Catherine Mann, backing a 50bp reduction. The details of March’s vote split are uncertain, though with the previously more dovish Deputy Governor Dave Ramsden and external member Alan Taylor citing two-sided risks in recent remarks a commanding majority in favour of no change looks highly probable. 

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MNI (LONDON) - The Bank of England is virtually certain to keep its policy rate on hold at 4.5% at its March meeting this week, with guidance adopted in February for "a gradual and careful approach" to further easing likely to stay in place.

The Monetary Policy Committee voted seven-to-two for February’s 25-basis-point cut, with two members, Swati Dhingra and Catherine Mann, backing a 50bp reduction. The details of March’s vote split are uncertain, though with the previously more dovish Deputy Governor Dave Ramsden and external member Alan Taylor citing two-sided risks in recent remarks a commanding majority in favour of no change looks highly probable. 

Keep reading...Show less