The minutes of the Bank of England’s latest monetary policy committee (MPC) meeting were just released, and people are scanning closely for hints on when the BoE may finally start to raise interest rates.
The vote to hold the Bank’s benchmark interest rate at 0.5% was unanimous once again, with nine members voting to hold and none voting for anything else.
There’s little sign of the dissenters that voted for a small hike last year. The minutes say that two members — probably Martin Weale and Ian McCafferty — were “finely balanced between voting to hold or raise Bank Rate.”
Despite the unanimous vote, all members agreed that an increase in rates is the likely next step for the Bank.