Shadow MPC votes to reduce interest rates

SMPC votes to lower interest rates by five votes to four

The IEA’s Shadow Monetary Policy Committee, a group of leading monetary economists drawn from academia and the City, voted to reduce interest rates at its latest meeting. Five members of the committee voted to reduce interest rates and four voted to hold rates. Once again, the monetary data conflicted with evidence from the real economy, contributing to the split view on the committee.

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