Lone hawk at MPC calls for a rise in rates

first_imgWednesday 18 August 2010 8:19 pm THE Bank of England’s Monetary Policy Committee (MPC) voted 8-1 to keep monetary policy on hold in August, suppressing speculation of a three-way split among members, the minutes of this month’s meeting showed yesterday.Eight members, including newcomer Martin Weale, overruled Andrew Sentance’s third call for a 0.25 per cent rise in interest rates and kept the cost of borrowing at 0.5 per cent and asset purchases at £200bn.With no vote in favour of QE, sterling bounced off three-month lows against the US dollar to $1.5689 immediately following the release but was unable to sustain gains.The MPC once again mulled the arguments in favour of both further loosening and tightening before choosing to stick with the status quo. However, the minutes added that the members who had voted for no change “stood ready to respond in either direction as the balance of risks evolved”.City economists said the MPC remained firmly in neutral mode this month with no move expected in either direction for some time to come. RBS’s Ross Walker said: “If there has been a defining characteristic over the past couple of months, it is that a form of policy petrification is setting in. All policy options were again discussed, but the August minutes convey little sense of agitation for change.”Lombard Street Research’s Michael Taylor agreed. He said: “Minutes to the August MPC meeting confirm a fairly entrenched ‘no change’ view. Fairly robust GDP growth and above-target inflation later this year will not trigger tighter policy as the MPC is focused on prospects further out. But nor is there much prospect of more QE.” Lone hawk at MPC calls for a rise in rates Tags: NULL whatsapp Sharecenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmHero WarsBig Boss of internet games!Hero Warsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com KCS-content last_img