Lone Voice Called for Boe Bigger Interest Rate Drop ; Economy
Birmingham Post › February 21, 2008
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Summary
Bank of England policymakers resisted calls for a half-point drop in interest rates at their last meeting opting instead for a more cautious quarter-point reduction, latest minutes have shown.
David Blanchflower told colleagues on the Bank's Monetary Policy Committee on February 7 that a "larger, precautionary reduction" in interest rates to five per cent was warranted.See the full content of this document
Extract
Lone Voice Called for Boe Bigger Interest Rate Drop ; Economy
However, yesterday's minutes show that Mr Blanchflower was a lone voice at the meeting, outvoted 8-1 by his colleagues.
The eight, including governor Mervyn King, s...See the full content of this document
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