BoE minutes raise hopes of rate cut

The minutes followed reports yesterday that inflation had remained stable at 1.8%, just inside the Treasury’s target of 2%. Of the nine MPC members, eight voted to keep rates steady at 5.75%, saying they wanted to assess the full effects of recent financial market turmoil. The remaining MPC member, David Blanchflower, voted to cut rates to 5.5%, boosting optimism that the Bank might cut rates before the end of the year. Inflation measured by the Consumer Prices Index (CPI) remained stable in September at 1.8%, with rising food prices offset by falling energy bills. The Retail Prices Ind...