MPC Decision Almost Unanimous
Wednesday, 20 August, 2008
The Bank of England's monetary policy committee (MPC) was almost unanimous in its decision to maintain the current base rate of interest at five per cent for the fourth consecutive month, it has been noted.
In news that may be of interest to people seeking unsecured loans, minutes of the meeting, published today (August 20th), reveal that members predicted that inflation "was likely" to move further above the target two per cent in the coming months.
Seven representatives of the MPC, including governor of the Bank Mervyn King, voted in favour of maintaining the current rate, while Tim Besley suggested it be increased by 0.25 percentage points.
Meanwhile, David Blanchflower requested a reduction of 0.25 percentage points.
Source: http://www.jstfinancial.co.uk/
