SMPC votes to hold interest rates - September 2007

At its latest meeting the IEA's Shadow Monetary Policy Committee voted eight to one to hold interest rates. One member wanted a 0.25% cut.

On this occasion, eight SMPC members voted to leave Bank Rate unchanged on 6 September, while one member, Patrick Minford, voted for a 0.25% reduction. Looking further ahead, five SMPC members had a bias to tighten after September, two of the holds thought that the next move in rates should be downwards, one had a broadly neutral bias, and Patrick Minford thought that more than one 0.25% rate cut would be required.

The minutes of the meeting can be downloaded above.

Invest in the IEA. We are the catalyst for changing consensus and influencing public debate.

Donate now

Thank you for
your support

Subscribe to