• All MPC members judge that policy could need to be tightened faster than market expects if economy grows as forecast

Market news

14 September 2017

All MPC members judge that policy could need to be tightened faster than market expects if economy grows as forecast

  • BoE expects gdp growth of +0.3 pct qq in q3 2017, unchanged from aug forecast, stronger consumption possible

  • Says considerable risks remain, including response of households, businesses and markets to brexit process

  • Policymakers Ian Mccafferty and Michael Saunders voted to raise rates to 0.50 pct

  • Most of MPC judge some withdrawal of stimulus likely "over the coming months" if growth continues and underlying price pressures rise

  • All MPC members agree any bank rate increases would be at a gradual pace and to a limited extent

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