BoE minutes reveal 6-3 vote
18 July 2007
18.07.07
BoE minutes reveal 6-3 vote
The minutes from the Bank of England meeting earlier this month revealed a 6-3 vote in favour of raising rates by 25bps to 5.75%. Deputy Governor Rachel Lomax, Chief Economist Charles Bean and David Blanchflower held their ground calling for rates to remain unchanged whilst Tucker and Barker switched sides and voted for a hike.
Whilst the minutes gave no clear indication as to the likelihood of further interest rate rises in the months ahead, the financial markets are still pricing in at least one more hike before the end of the calendar year.