Saturday, July 14, 2007
How did they vote?
Posted by David Smith at 09:30 AM
Category: Thoughts and responses

The minutes of the Bank of England's meeting earlier this month have taken on some significance. These things never leak, so we have to try and guess. Analysts are expecting a 6-3 vote, according to a survey by, implying that there were two switchers from June's 5-4 vote against a hike. A narrower margin in favour of a hike this time, 5-4, would be seen as dovish. A clearer margin, 7-2 or more, would imply an urgency to hike that would put the markets on alert for further early action, as would any suggestion that a half-point was considered. The minutes will be published on Wednesday.


retail price inflation was up from 4.3% to 4.4%....

Yes and that's the problem. Last week I got into a train with soemone who assumed that their employer could pay larger rises in pay indefinetely...

Wage inflation ios aloive and well.... Even if house price inflation is now no longer so...

Posted by: pete balchin at July 30, 2007 01:59 PM

wage inflation continues though....

Posted by: pete balchin at July 30, 2007 02:00 PM

You need to rely on more than anecdotes from people on trains. Look at the data - wage inflation has been extraordinarily subdued.

Posted by: David Smith at July 31, 2007 08:48 PM
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