MPC hints at rate cut this year

The MPC's latest minutes show the panel is now broadly more dovish on inflation risks and interest ra...

The MPC’s latest minutes show the panel is now broadly more dovish on inflation risks and interest rate cuts are on the cards for this year. The Bank of England’s interest-rate decision makers have said they believe the falling oil price, which is bringing down petrol prices, will help “offset the pressures” of inflation. The minutes, which summarise the committee’s last meeting, show seven members voted for rates to hold at 5% and, as usual, one member argued for a hike and one for a cut. A rate rise was ruled out due to fears of a deep recession in the UK, while it was noted such a m...