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MNI BRIEF: BOE Leaves Rates Unchanged In 6-3 Vote Split

BOE on hold as MPC points to continued 'gradual' reduction of restrictive policy.
Bank of EnglandCEEMEAPolicy NewsCentral Bank NewsUKStory

The Bank of England left the key Bank Rate unchanged at 4.75% in December, although there was somewhat of a surprise with three Monetary Policy Committee members voting to lower rates.

Governor Andrew Bailey said the decision was based on the "need to make sure we meet the 2% inflation target on a sustained basis." The three dissenters preferring a 25bp cut were Deputy Governor Dave Ramsden, Swathi Dhingra and Alan Taylor.

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The Bank of England left the key Bank Rate unchanged at 4.75% in December, although there was somewhat of a surprise with three Monetary Policy Committee members voting to lower rates.

Governor Andrew Bailey said the decision was based on the "need to make sure we meet the 2% inflation target on a sustained basis." The three dissenters preferring a 25bp cut were Deputy Governor Dave Ramsden, Swathi Dhingra and Alan Taylor.

Keep reading...Show less