August 20, 2008

MPC Split when Market Need a Consensus

Bank of England Monetary Policy Committee split three ways on setting interest rate, today's minutes showed. However, they seem to be more optimistic about inflation regarding recent sharp drop in oil and commodities prices. More concerns also reflected about the growth but it is not encouraging when there is no consensus to support it. The votes were similar to the previous meeting but the reaction to sterling was negative.

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