Mpc Gives Credence to the View That Interest Rates Have Peaked; Bank of England Minutes Silent On Need for Further Rises

Summary

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THE monetary policy committee does not highlight any need for further rises in UK interest rates in the minutes of its September meeting - giving much greater credibility to the minority view that rates have peaked already at 4.75%.

Minutes of the Bank of England committee's September 8 and 9 meeting, published yesterday, showed MPC members had voted nine-to- nil to hold base rates at 4.75%.

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Mpc Gives Credence to the View That Interest Rates Have Peaked; Bank of England Minutes Silent On Need for Further Rises

While this vote had been widely expected, financial markets seized upon what appeared to be an extremely dovish tone in the minutes. The pound fell.

Daragh Maher, currency strategist at Credit Agricol...

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