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BOE Preview: Tough To Signal Tightening W/out Fresh Votes
The Bank of England Monetary Policy Committee, at this week's meeting, will face a tricky challenge if it wants to come up with a line to persuade markets that it is serious about tightening if there are no fresh votes for a Bank Rate hike. At the August MPC meeting, two members voted for a hike and analysts surveyed by Market News International were united in the belief that only these same two members, Ian McCafferty and Michael Saunders, will vote for tightening this time around. The MPC deployed a line in the August minutes that markets may be underestimating the total amount of tightening required, but that ... (full story)