The Bank's minutes noted that the exchange rate had weakened on the month, while volatility had picked up "as market participants had become more uncertain about the outcome of the referendum".
“We think the majority of MPC members are comfortable keeping Bank rate at the current level at least until next year”, said Robert Kuenzel of Daiwa Capital Markets.
The MPC's two dissenting voices "noted that the continuing rapid fall in unemployment alongside survey evidence of tightening in the labour market created a prospect that wage growth would pick up".
“The split within the committee is based on a difference of view on the size of the output gap, in conjunction with the likely path of wage inflation”, said Brian Hilliard of Societe Generale.
“There has been little news which would cause a reassessment of the position on either side of the debate”, said Mr Hilliard.
As inflation has continued to decline, “the case for leaving rates on hold has strengthened”, said Maeve Johnson of Capital Economics.
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