The Future for UK Interest Rates

The Future for UK Interest Rates - at www.moneyweek.com - the best of the international financial media

It is self-evident from the voting figures a 5:4 majority for a rate cut with the Governor voting against the 25bp reduction to 4.5% that the decision made by the Monetary Policy Committee at the Bank of England on August 4 was, as we had always expected, very finely balanced. It is also likely that future decisions will be finely balanced.

Given the economic backdrop it is not surprising that the decision to reduce rates was anything but clear-cut. As the minutes observe:

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