BOE MPC Preview
Minutes to the Bank of England’s rate-setting meeting earlier this month, when rates were held at 5%, are expected to show a three way split of 1-7-1
Experts say the minutes may show seven members of the Monetary Policy Committee voted to hold rates unchanged, one voted for a 25bp rise and one for a 25bp cut. If that proves to be the case the voting will be identical to the previous meeting.
The BOE’s August Inflation Report shows the Bank expects CPI inflation to spike to around 5% this year but to then drop to just below the 2% target in two years’ time, based on market expectations that interest rates will remain roughly constant at 5%.
Need to Know News’ Scream Audio will broadcast the minutes live from the BoE at 9.30am London time.