The overall message from the BoE was nuanced. Most rate-setters felt that there continued to be value in waiting for additional information, particularly about near-term developments in the labour market following the end of the furlough scheme. ![]() The outcome was finely balanced and not the ‘dead cert’ for a rise that markets were pricing in. A 7-2 majority on the MPC voted to keep rates on hold at 0.1%, with Ramsden and Saunders the lone voices calling for a 15bp increase to 0.25%. ![]() In the end, the Bank of England decided to leave interest rates unchanged. THE BOE SURPRISES MARKETS BY HOLDING RATES
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