Feb 4, 2011
8:00:00 AM
| Last Updated
The minutes of the latest Monetary Policy Committee (MPC) meeting at the Bank of England (BoE) showed a hawkish surprise. Martin Weale—thought to have a more dovish affiliation—became the latest member to vote for a rate increase.
There are currently four factions on the MPC; the governor, Mervyn King, is sympathetic to the dovish camp; Adam Posen still favors QE2; Andrew Sentance and Martin Weale want a rate hike; and then there is a group of other hawkish sympathizers. The minutes reveal that, although there were only two members who supported a rate hike, there were others—[...]
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