Most members of the Bank of England's Monetary Policy Committee (MPC) backed their new governor's policy of forward guidance on interest rates, minutes from the Committee's latest meeting show.
Eight out of the nine members voted in favour of forward guidance, in which the governor indicates to the market how long he intends to hold the base rate at a record low. Carney announced last week he will not move to raise rates until the unemployment rate falls back below the 7% mark. The minutes of the meeting held on 31 July and 1 August also show the Committee voted unanimously to leave the Bank's quantitative easing programme unchanged at £375bn. However, the MPC said it "stands ready to undertake further asset purchases while the LFS unemployment rate remains above 7% if it ju...
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