BOE minutes show rate vote split at 7-2 again, concern over inflation target

Henry Liu Updated on
boe minutes show rate vote split at 7 2 again concern over inflation target 106770

LONDON—Some Bank of England officials appear increasingly concerned they may overshoot the central bank’s inflation target if unemployment in the U.K. keeps tumbling, a sign BOE Governor Mark Carney ’s majority in favor of keeping short-term interest rates pinned near zero may soon start crumbling.

Minutes of the rate-setting Monetary Policy Committee’s November policy meeting, published Wednesday, show the nine-member panel was once again split over the need for an immediate rise in interest rates, with two officials voting to lift the BOE’s benchmark rate from its 0.5% low and the remainder choosing to hold it steady.

But the minutes also hint at deepening divisions among the seven-member majority led by Gov. Mark Carney, who favored keeping rates on hold.

Henry Liu

My name is Henry Liu, and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; my goal (and vision) is to educate every trader on how to take advantage of news trading and become more balanced traders.

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