BoE hints at further base rate cut

Every member of the rate-setting Monetary Policy Committee (MPC) voted for this month's 1.5% base rate cut, minutes from the meeting reveal. According to the report, the projections in the Inflation Report suggested a cut of more than 2% may be required to meet the inflation target in the medium term. The Bank decided not to take such drastic action in November, but the MPC recognised the inflation outlook meant bank rates may have to be lowered further. The members also noted the housing market had shown no sign of recovery in October, with lower house prices making house-building le...