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4 Jun 2015
BoE leaves policy unchanged, hawks might be getting closer – ING
FXStreet (Barcelona) - Reviewing the BoE policy decision, James Knightley, Senior Economist at ING, mentions that the minutes might suggest the MPC hawks would be closer to voting for a rate rise.
Key Quotes
“The Bank of England has left monetary policy unchanged as universally expected given the fact that inflation is in negative territory and growth was a disappointing 0.3%QoQ in 1Q15.”
“It is possible that the minutes will subsequently show the two relative hawks on the MPC, Martin Weale and Ian McCafferty are getting closer to voting for a rate rise given the ongoing strengthening of the labour market and rising wages. For now though we suspect that they opted for the status quo, particularly given recent financial market volatility and the strength of sterling.”
Key Quotes
“The Bank of England has left monetary policy unchanged as universally expected given the fact that inflation is in negative territory and growth was a disappointing 0.3%QoQ in 1Q15.”
“It is possible that the minutes will subsequently show the two relative hawks on the MPC, Martin Weale and Ian McCafferty are getting closer to voting for a rate rise given the ongoing strengthening of the labour market and rising wages. For now though we suspect that they opted for the status quo, particularly given recent financial market volatility and the strength of sterling.”