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A split vote but no UK rate hike in sight

  • The UK’s Monetary Policy Committee voted 8-1 to keep rates on hold, and unanimously to keep the stock of asset purchases unchanged at its March meeting. Kristin Forbes, who voted to raise Bank Rate by 0.25 basis points, was the lone dissenting voice.
  • Although there were signs that consumers’ expenditure may have started to slow in line with expectations, some Committee members noted it would take little in the way of upside news to justify a modest policy tightening…

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