"…the IEA is always challenging and thought-provoking." – David Laws MP
SMPC minutes
2 Sep 2008
SMPC believes that interest rates should be held for now but should be cut later
3 Aug 2008
SMPC votes six to three to hold interest rates - but believes the Bank must be ready to cut in the future
7 Jul 2008
IEA's Shadow Monetary Policy Committee vote eight to one to hold interest rates
1 Jun 2008
SMPC votes overwhelmingly against interest rate cut
5 May 2008
SMPC members vote to hold rates by five votes to four
10 Apr 2008
SMPC members vote for a rate cut by six votes to three
3 Mar 2008
SMPC votes to hold interest rates by seven votes to two
4 Feb 2008
SMPC again votes for an interest rate cut by five votes to four
7 Jan 2008
SMPC votes for 0.25% interest rate reduction by five votes to four
5 Jan 2008
SMPC votes six to three against further interest rates cuts but supports other methods of monetary easing.
3 Dec 2007
SMPC votes for 0.25% rate cut by five votes to four
5 Nov 2007
SMPC votes to hold interest rates, amid current economic uncertainty
1 Oct 2007
SMPC votes to hold interest rates by eight votes to one
3 Sep 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.
1 Aug 2007
The SMPC voted by five votes to four to hold interest rates at their current level.
1 Jul 2007
SMPC votes to increase interest rates by 0.25% by eight votes to one. Most members believe that rates should rise further in forthcoming months
4 Jun 2007
SMPC votes by five votes to four to hold interest rates for now
9 May 2007
SMPC votes to raise interest rates by 0.25% by seven votes to two but rejects 0.5% increase
3 Apr 2007
SMPC votes to raise interest rates by 0.25% by eight votes to one. Two members want 0.5% increase.
5 Mar 2007
SMPC votes to hold rates but believes that rates will have to rise further in the coming months.
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