Bank of England MPC Minutes 9/10 July 2003

Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 23 July for the meeting of 9 and 10 July 2003. The MPC acknowledged that it now seemed likely that UK growth in 2003 Q2 had been weaker than the Committee had assumed in May. The consensus suggested that expectations for growth in 2003 and 2004 were slightly lower than the Committee had projected at that time. The minutes said the key issue remained whether investment would recover before consumption eventuall