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Podcast: Beyond Currency
Episode: 5th November 2021 - Dovish BoE defies inflation prediction
Description: "Members of the Bank of England’s Monetary Policy Committee voted 7-2 in favour of leaving short-term interest rates at the historically low level of 0.1% at their meeting, which concluded yesterday.
The two members who voted for a hike were David Ramsden, Deputy Governor for Banking and Markets, who is concerned about what he calls rampant wage demands over the next few years and Michael Saunders.
Saunders is a perennial hawk who believes that the level of support being provided to the economy risks fuelling expectations of higher inflation.
The vote to hold fire on any rate increase came despite th...