19.11.2014 - The Bank of England kept interest rates

Today was held the voting on interest rates in the UK. The Monetary Policy Committee decided to keep interest rates at the current level of 0.5%. At the same time it should be noted that 2 of the 9 members of the committee voted for a rate hike to 0.75%. The main arguments of Martin Wil and Ian McCafferty was that the current low level of inflation is explained by the high price of the British pound and lower commodity prices. Earlier, the Bank of England announced its intention to consider raising interest rates only in case of strong growth in wages. We expect a further decline of the British pound because of the postponement of rising interest rates.

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