BoE’s Forbes dissents as inflation looms

kristin-forbes-mpc
Forbes concerned about extended inflation overshoot. Photo: Bank of England

One member of the Bank of England’s (BoE) monetary policy committee (MPC) voted for a 25bp hike in interest rates today (March 16), citing concerns that inflation was “rising quickly” and likely to remain above target for “at least” three years. The other eight members voted to keep policy on hold at 0.25%, but noted a “reduction in policy support might be warranted” in the future, should inflation pressures continue. According to minutes from the BoE’s latest monetary policy meeting, disse