The monetary policy committee voted six to three to hold interest rates steady despite consumers’ reticence to spendBusiness live – latest updatesThere was no doubt in the City that the Bank of England would hold interest rates at 4.75%. An increase in annual inflation last month and a sharp rise in wages in the autumn meant its monetary policy committee (MPC) was widely expected to hold fire on a third rate cut this year.What many will find more surprising is the yawning gap between the six committee members who voted to hold rates and the three who voted for a reduction. Continue reading…
Source link : https://www.theguardian.com/business/2024/dec/19/inflation-fears-trump-growth-concerns-among-bank-of-englands-mpc-members-interest-rates
Author : Phillip Inman
Publish date : 2024-12-19 13:25:03
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Inflation fears trump growth concerns among Bank of England’s MPC members
