BoE decision to hold rates 'no longer unanimous'

According to the Financial Times, Kristin Forbes voted to raise rates by a quarter of a percentage point to 0.5%, despite the rest of the committee judging that consumer spending and wage growth remain too sluggish to change rates. However, with Forbes set to leave the MPC at the end of June, the committee's dovish stance on interest rates is likely to stay on track despite her hawkish views. More dovish members noted that wage growth had been "softer than expected" despite a drop in unemployment, while retail sales had "weakened notably". However, Forbes said inflation was rising ...