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No new votes for rate hike at Bank of England

No new votes for rate hike at Bank of England

Minutes to the Bank of England's last rate-setting meeting, when the key interest rate was left unchanged at a record low of 0.5 percent, show there were no new votes in favor of an increase.
Minutes of the committee's March meeting were released Wednesday, and showed that Andrew Sentance again voted to raise the rate to 1 percent, and Spencer Dale and Martin Weale backed a hike to 0.75 percent.
One member, Adam Posen, again voted to pump another 50 billion ($80 billion) into the Bank's economic stimulus program of quantitative easing through asset purchases.
Despite worries about inflation, the minutes show the majority of five thought a wait-and-see policy was justified because of uncertainties in the oil market and the weakness of household spending.


Updated : 2021-07-27 15:50 GMT+08:00