BoE MPC minutes reveal 8-1 vote to leave rates on hold
21.03.2007
The Bank of England surprised the market this morning with the minutes from their meeting earlier this month which revealed an 8-1 vote in favour of leaving rates on hold at 5.25%. The surprise was the lone dissenter, David Blanchflower, who voted for an immediate cut. The minutes indicated that the committee was content to leave rates unchanged based on the balance of risks, but said the short term outlook for inflation was now slightly lower than in the February inflation report.