Today saw the release of the ‘minutes’ from last month’s meeting of the UK Central Reserve Bank, revealing that members of the Bank’s monetary policy committee voted 7-2 to hold rates at their current levels. That there were two dissenting votes is confirmation to some economists that the Bank is planning to hike rates again in the near-term, perhaps as soon as March. British short-term interest rates, at 5.25% are already on par with American rates, and another rate hike would further lessen the appeal of risk-averse investment in America. Investors will be eying inflation data closely over the coming weeks, which could provide the impetus for a rate hike at the next meeting.
Read More: MPC voted 7-2 to hold rates
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