MPC vote not a done deal

The latest change was carried by just a single vote, 5-4, with those against arguing inflationary data might not be solid enough to warrant a rise in the current economic conditions. Despite inflation figures published by the Office for National Statistics subsequent to the vote suggesting strong wage inflation pressures, the doves on the MPC said the committee should not be seen to over-react to short-term data. “It was difficult to know how informative the current inflation rate was, given sharp movements in volatile components such as energy and food,” the minutes report in the sum...