Bank vote 7 - 2 March 19th, 2008
The Bank of England’s Monetary Policy Committee (MPC) voted 7 - 2 in favour of interest rates remaining on hold at 5.25%., citing the need to focus on inflation as the reason for the decision. The two dissenting voters wanted a quarter point cut to follow the 0.25% cut in February.
The news that there was mixed views in the committee, together with the aggresive 0.75% cut in the US could pave the way for a cut in April, a month sooner than many commentators had originally suggested.
