BoE holds but MPC expects August easing
Pound appreciates as monetary policy committee votes 8:1 to leave rates at 0.5%
The Bank of England kept policy unchanged today (July 14), though "most members" of the monetary policy committee (MPC) expect to ease at their August meeting.
Many in the markets had expected a policy rate cut today. The pound appreciated after the announcement and was up 1.3% against the euro at 1:30pm local time.
Eight of the nine MPC members voted to hold the rate at 0.5%. Gertjan Vlieghe, meanwhile, voted for a 25-basis point cut. All members voted to keep the stock of asset purchases at
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