Bank of England minutes refocus minds in markets

UK - The minutes of November's interest rate meeting at the Bank of England released Wednesday suggest that financial markets may have been premature in assuming interest rates won't fall below their current level.

Many observers are now reviewing last week's change of heart after the minutes showed that eight out of the nine members on the monetary policy committee voted for the half percentage point cut in the repo rate to 4.0% in November.

The near unanimity of the vote will have come as muc