Bank of England's Monetary Policy Committee minutes: 8-1 split to keep monetary policy unchanged

Market news

6 August 2015

Bank of England's Monetary Policy Committee minutes: 8-1 split to keep monetary policy unchanged

The Bank of England's Monetary Policy Committee (MPC) released its August meeting minutes on Thursday. 8 members voted to keep the central bank's monetary policy unchanged. Ian McCafferty voted to hike interest rate.

Analysts had expected that at least two members will vote to hike interest rate.

The central bank said in its statement that the monetary policy will depend on the incoming economic data.

Most MPC members noted that the interest rate hike was not necessary.

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Bank of England keeps its interest rate on hold at 0.5% in August

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