Shadow MPC Votes to keep interest rates unchanged 1st May 2006

SMPC votes by seven to two not to cut interest rates

The IEA’s Shadow Monetary Policy Committee, a group of leading monetary economists drawn from academia and the City, voted to keep interest rates on hold at its latest meeting. Two members of the committee voted to reduce interest rates and seven voted to hold rates. Again the monetary data conflicted with evidence from the real economy, contributing to the split view on the committee. A number of members expressed the view that rates would have to rise in the medium term.

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