Bank of England MPC Minutes 7/8 January

Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 January for the meeting of 7 and 8 January 2004. Sir Andrew Large was the sole dissenter on the MPC for the second month in a row, voting for a quarter-point rate rise.

The minutes said that although inflation was currently well below its target, it was expected to rise in coming months. They also noted that November's quarter-point rate rise, the first in almost four years, had not yet had a "significant ad

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