The minutes revealed that two of the committee's nine members backed a rate cut, with Sir John Gieve, the deputy governor responsible for financial stability, dissenting along with David Blanchflower, regarded as a leading dove by many observers . Analysts had expected only Blanchflower to call for a quarter-point cut.
The minutes also indicated
- James Bullard on 2% rates, tariffs and Fed leadership
- Turkish central bank raises overnight rates in bid to stop lira’s fall
- Podcast: David Hendry and John Muellbauer on empirical macro
- Policies must change to stop emerging markets crisis, analysts say
- Next financial crisis “will be brewing” in shadow banking – Bullard