We’re certainly seeing plenty of different approaches from central banks as they wrap up their tightening cycles, with the Bank of England today surprising with a hold while not adopting a particularly hawkish tone alongside it. That said, more important than the tone is just how close the vote was, with five policymakers – including Governor Bailey – voting to hold and four others backing a hike. That arguably puts this in into hawkish hold territory but what is interesting is the wide range of views within the committee that comes across in the statement. I expect we’ll see a similarly tight vote at the next ... (full story)