Boe has No Stomach for Raising Interest Rates According to Minutes

Summary

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Not a single member of the Bank of England's interest-setting committee made a theoretical case for raising the cost of borrowing, let alone cutting it, at their meeting this month before all seven voted to leave well alone.

This was revealed yesterday in the Bank's minutes of the Monetary Policy Committee's meeting on July 5 and 6. The committee members also agreed there were "significant risks in both directions" to the Bank's assessment of inflation prospects.

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Extract

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Boe has No Stomach for Raising Interest Rates According to Minutes

But their overwhelming unanimity helped calm fears the sharp jump in last month's inflation reported by Nation...

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