Volatility fails to shake outlook as BoE holds rates steady
Latest MPC minutes largely preoccupied with discussion of international developments
The Bank of England kept monetary policy on hold today (January 14), with eight of the nine decision-makers on its monetary policy committee (MPC) voting to keep the interest rate at 0.5% and indicating little change in their outlook.
"It was no surprise that the majority of the MPC continued to hold fire on interest rates, but it was notable that Ian McCafferty stuck to his guns in arguing for a rate rise despite recent global financial market volatility," said John Hawksworth, PwC's chief
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