Wednesday, November 19, 2008
MPC voted 9-0 for 1.5 point cut
Posted by David Smith at 02:30 PM
Category: Thoughts and responses

The most dovish set of minutes in the monetary policy committee's history. Not only did the MPC vote 9-0 for this month's cut in Bank rate from 4.5% to 3% but it also contemplated a bigger reduction of more than two percentage points. Further rate cuts are on the way, as the minutes clearly signal. They are available here.