MPC dissent grows amid BoE dilemma

The Bank of England

Divisions in the Bank of England’s (BoE) monetary policy committee (MPC) became more pronounced today (June 15), as three members dissented from the majority view.

The BoE has for some time been facing a difficult balancing act as the UK economy slows and inflation rises. The latest CPI figure put inflation at 2.9%, overshooting the MPC’s central forecast. In a statement, the committee said inflation could exceed 3% by the autumn, and may be pushed higher if weakness in the exchange rate is sus