BOE MPC votes 9-0 to keep interest rate unchanged

FXStreet (Mumbai) - The minutes of the Bank of England (BOE) monetary policy committee (MPC) meeting on April 9th showed a unanimous decision to maintain the interest rate unchanged at record lows.

The details provided little insight into the UK economy. Regarding inflation, the policymakers believe a strong Pound is lowering CPI faster than expected, which could imply a bigger bounce back later. The CPI is expected to turn slightly negative in coming months. Policy makers are confident that wage and price inflation shall eventually catch up with the pace of economic growth.

The minutes reveal the policy makers are surprised by the sudden deterioration of the US economy, while the Eurozone economy appears to be picking up.