UK Economics

UK Economics Weekly

16 June, 2017

MPC hawks to remain in the minority for a while yet

This week, the Bank of England’s Monetary Policy Committee came close to voting to tighten monetary policy. At the same time, we saw claims that austerity is now over. It is remarkable therefore that markets still think the MPC will leave rates on hold until the second half of 2019.

Admittedly, there are some good reasons why the MPC should be in no rush to raise rates. For a start, the fact that two more members have voted to raise rates does not necessarily mean that the tide is turning o

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