Search ForexCrunch

“The Bank of England kept rates unchanged at the June meeting,” points out Rabobank analysts and add: “The vote was split 6-3 as the known dissenters Ian McCafferty and Michael Saunders were joined by the Bank’s chief economist Andrew Haldane in their push for an increase to 0.75%.”

Key quotes

“The MPC remained confident in their own projections as the news since the previous meeting had given them greater reassurance that the first quarter weakness was indeed a soft patch.”

“We see a good chance that the Bank of England will make their move to 0.75% in August.”

“The MPC also reviewed its guidance on the level of Bank Rate at which the MPC will consider unwinding its asset purchase programme.”