BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5%
The Bank of England has left the door wide open for a May rate hike, with seven of its nine-member monetary policy committee voting to keep rates on hold today (March 22).
In a statement, the BoE announced that both Ian McCafferty and Michael Saunders – who have proven hawkish at past meetings – had voted for a 25-basis point rate hike at today’s meeting.
“These members noted the widespread evidence that slack was largely used up and that pay growth was picking up, presenting upside risks to
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