delusionofgrandeur

The minutes for the May Monetary Policy Committee meeting of the Bank of England show that the committee voted 9 to 0 in favour of the .25% increase in UK interest rates to 5.5%

Two members of the committee were considering voting for a .50% increase.

If the Committee had been reasonably confident about the need for another interest rate rise soon, then a strong case could have been made for an increase of 50 basis points this month. But those members who had considered voting for 50 basis points preferred to wait for more data to assess the impact of past increases in Bank Rate.

Reference to post at HPC forum

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