BoE rate hike unlikely despite ‘hawkish’ views

The Bank of England’s Monetary Policy Committee holds its monthly policy meeting this week, with expectations that policy will be left unchanged.

However, the text of the minutes from their last meeting in May suggests that there are some less ‘dovish’ views emerging within the committee.

Significantly, at the May meeting having left rates unchanged since 2009 “for some members the monetary policy decision was becoming more balanced”. In addition, it was noted that the more gradual the eventual rise in interest rates, the “earlier it might be necessary to start tightening policy”.