Bank of England minutes reveal 5-4 vote
24.01.07
The BoE minutes from their meeting earlier this month surprise the market this morning revealing a 5-4 vote in favour of raising interest rates despite the market having prior knowledge of CPI running at 3.0%. This follows Mervyn King’s speech which was less hawkish than the market highlighting that inflation could fall sharply in the second half of 2007 as last year’s fuel price increases fall out of the annual figures.