Back
6 Aug 2015
BOE MPC vote split – 8:1 – for the first time in 2015
FXStreet (Mumbai) - The Bank of England (BOE) latest monetary policy minutes released on Friday showed monetary policy committee is divided for the first time this year over whether to raise interest rates from their historic low of 0.5%.
According to minutes, only one member - Ian McCafferty - voted in favour of a rate rise. Prior to the minutes' release, markets were expecting a 7-2 split. The last time the split in voting was seen in December 2014 when both Mr McCafferty and Martin Weale voted in favour of a 25 basis points increase.
According to minutes, only one member - Ian McCafferty - voted in favour of a rate rise. Prior to the minutes' release, markets were expecting a 7-2 split. The last time the split in voting was seen in December 2014 when both Mr McCafferty and Martin Weale voted in favour of a 25 basis points increase.