Central Banking

MPC's Lomax was only dissenter in UK rates cut

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The Bank of England's nine member Monetary Policy Committee voted 8-1 for a cut in interest rates at their July meeting, minutes showed Wednesday. Rachel Lomax, the new deputy governor, attending her first meeting, was the only member to vote to hold rates steady. Tradition usually holds that new MPC members vote with the majority in their first few meetings, Lomax becomes only the second member to vote against the majority at their first meeting. Ms Lomax said the "central outlook was benign

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