MNI BoE Review-Dec 2024: 3 Dovish Dissenters
Dec-23 10:27By: Tim Davis
UK+ 2
- The Bank of England’s MPC voted to keep Bank Rate on hold at 4.75% on Thursday with the guidance largely unchanged.
- However, there was a surprise in the vote split with both Ramsden and Taylor joining Dhingra in voting for an immediate 25bp cut.
- The MPC were largely dismissive of higher wage growth and continue to look for "gradual" cuts.
- We don't think the extra dissenters now change the course for the BOE; we expect they would have looked for sequential cuts early in 2025 anyway.
FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK: MNI BoE Review - Dec24.pdf
