Developments in China were ‘the main focus of the committee’s decision’ to leave interest rates unchanged,the Bank’s minutes showBank of England policymakers fear Chinas slowdown could “add to the global headwinds” facing the UK economy in the coming months, but it is too early to derail their plans to raise interest rates off course.
One member of the Bank’s nine-member monetary policy committee, and former CBI economist Ian McCafferty,voted for an instant increase in borrowing costs from their record low of 0.5% at the assembly that concluded on Wednesday — the same voting pattern as in August.
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Source: theguardian.com