BOE’s Forbes Votes for Rate Hike, Others May Not Be Far Behind
- MPC votes 8-1 to keep interest rate at record low 0.25 percent
- Some in majority said upside news may lead them to change view
BOE Leaves Rates Unchanged at 0.25% in 8-1 Vote
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Bank of England policy maker Kristin Forbes voted for an interest-rate increase and some others indicated they may not be far behind her.
As the nine-member Monetary Policy Committee balances a desire to support growth against concern about a currency-fueled pickup in consumer prices, Forbes said the trade-off has shifted. For her, the outlook for above-target inflation over the next three years, combined with few concrete signs of slower growth, warranted an immediate hike.