FTSE reaction to MPC muted

The vote turns out to have been possibly narrower than some thought, with the official record showing it was a 5-4 vote to raise the cost of borrowing by 25 basis points. For companies listed on the stock exchange the more doveish outlook means the cost of borrowing may not rise as far or as fast as some predicted when inflation figures were published following the MPC’s vote, but there is still widespread expectation of at least another 25 bps rise to ensure the Bank of England keeps inflation within the targets set by government. About 80 stocks are up currently, led by resources an...