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14 Dec 2015
One BoE member calling for a hike - UOB
FXStreet (Guatemala) - Analysts at UOB Group explained that the final meeting of the BoE this year culminated with the decision to keep the base interest rate unchanged at a record low of 2.50%, and the programme of asset purchases paused at GBP375bn.
Key Quotes:
"The outcome was generally expected, with the voting pattern in favour of the interest rate decision holding steady at 8-1. Ian McCafferty again argued for a 25bp hike on the basis that “the path of domestic costs was more likely to lead to inflation exceeding the target in the medium term than was embodied in the Committee’s collective November projections.”"
Key Quotes:
"The outcome was generally expected, with the voting pattern in favour of the interest rate decision holding steady at 8-1. Ian McCafferty again argued for a 25bp hike on the basis that “the path of domestic costs was more likely to lead to inflation exceeding the target in the medium term than was embodied in the Committee’s collective November projections.”"