Discussion at the meeting is likely to have been heavily influenced by the forthcoming inflation report. |
Further evidence that the US rate-tightening cycle may be approaching a pause was provided yesterday by a weaker-than-expected ISM report on the manufacturing sector and the release of a dovish set of minutes from the Fed's December meeting. |
The debate on interest-rate cuts is still a live one. |
The household spending number highlights the risks facing the consumer sector, |
This proves it is not just the Mervyn King show. In any academic or business environment you are always going to have at least two views; that's what makes markets. |
Today's report provides something for both the hawks and the doves on the Monetary Policy Committee. It is, however, unlikely to precipitate a change of policy when the Bank next meets. |
We still expect the MPC to leave policy on hold when it meets in November, although a split vote is likely, |
We still expect the MPC to leave policy on hold when it meets in November, although a split vote is likely. |