The Bank of England is moving closer to raising interest rates, after ratesetters’ votes to tighten its policy on inflation.
Two of the nine members of the bank’s monetary policy committee voted at its September meeting to scrap the final £35bn of quantitative easing, including the deputy governor, Sir Dave Ramsden.
The rest acknowledged that inflation pressures were becoming “more persistent”, but argued that there was “a high option value in waiting for additional information”.
While the members voted to hold rates at 0.1%, markets are expecting a rate rise to 0.25% early next year, and to 0.5% before 2023 to tame runaway inflation.
The Times (£)
The Telegraph (£)
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
