Bank Of England Review: BOE Still On Track For A May Hike

Published 03/23/2018, 03:49 AM

The Bank of England maintained monetary policy unchanged but two BoE members (Ian McCafferty and Michael Saunders) voted for an immediate rate hike (vote count 7-2 for an unchanged Bank Rate). While Mark Carney has already revealed that the BoE no longer wants to pre-commit to a hike, this was as close to a pre-commitment as we could get.

Looking at the meeting summary and minutes, there were no major shifts in the policy signal from the Bank of England, as economic data have been in line with the projections in the February Inflation Report. The BoE says ‘ongoing tightening of monetary policy’ is needed over the forecast horizon.

To read the entire report Please click on the pdf File Below:

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