MPC split but rates stay low

MPC split but rates stay low

first_imgSunday 5 December 2010 11:14 pm Share whatsapp KCS-content Tags: NULL More From Our Partners Why people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com DESPITE tensions among its members, Britain’s interest rate setting body is expected to keep rates at 0.5 per cent when it meets on Wednesday and Thursday.In November seven members of the Monetary Policy Committee (MPC) voted to leave policy unchanged. Yet divisions between two opposing members of the committee have deepened and Bank of England governor Mervyn King has faced criticism from fellow MPC voters.American member Adam Posen told MPs that “a number of people on the committee” thought the support for the coalition government’s cuts last spring was “excessively political.”Posen has also argued for a further period of quantitative easing (QE2) in the UK, creating a three way split in the MPC.Andrew Sentance, whose term on the committee expires in May, is expected to again vote for an increase in rates by 0.25 per cent.Sentance has recently repeated his view that the MPC needs to tackle inflation. Consumer price inflation (CPI) rose to 3.2 per cent in October, considerably above the Bank of England’s two per cent target.Yet he is unlikely to be joined by any of his colleagues on the MPC this week, according to Simon Ward of Henderson Global Investors. “When a policy change comes, it will be a mass movement rather than individuals splitting off into factions,” said Ward.Governor King has insisted that medium term inflation is under control. And the Bank’s chief economist Spencer Dale said that while the MPC “remains as hard nosed as ever” on inflation, the “current focus is on providing the stimulus necessary to support the recovery.” Show Comments ▼ whatsapp MPC split but rates stay low last_img

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