Bank voted 8-1 to hold UK rates

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Post by IVA News » Wed Oct 17, 2007 10:13 am
Bank voted 8-1 to hold UK rates

Policymakers at the Bank of England voted 8-1 to keep UK interest rates at 5.75% earlier this month, minutes show.

The one policymaker who did not vote to hold rates, David Blanchflower, wanted to trim rates to 5.5%.

The minutes indicated that the members of the Bank's Monetary Policy Committee (MPC) agreed the financial market turmoil would affect the economy.

The remarks are expected to raise hopes that the Bank will cut UK rates sooner rather than later.

Source: bbc.co.uk

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