BOE Keeps Interest Rate Unchanged as Minority Urges Hike
- McCafferty, Saunders urged immediate increase to 0.75 percent
- Policy makers will reassess outlook at next meeting in May
This article is for subscribers only.
The Bank of England moved closer to raising interest rates as early as May after keeping the benchmark unchanged on Thursday.
The Monetary Policy Committee voted 7-2 to hold the rate at 0.5 percent. All 62 economists in a Bloomberg survey predicted no change. Policy makers Ian McCafferty and Michael Saunders wanted an immediate increase, arguing that slack in the economy has been used up and wage growth is accelerating.