Historic Charts: BOE Meeting Minutes

Jan 25, 2006

No data

Feb 22, 2006

no data

Mar 22, 2006

No data

Apr 19, 2006

No data

May 17, 2006

No Data

Jun 21, 2006

Previous: 8-1
Estimate: 8-1
Actual: 7-1

Jul 19, 2006

Previous: 7-1
Estimate:
Actual: 7-0

Aug 16, 2006

Previous: 7-0
Estimate:
Actual: 6-1

Sep 20, 2006

Previous: 6-1
Estimate:
Actual: 8-0

Oct 18, 2006

Previous: 8-0
Estimate:
Actual: 7-2

Nov 22, 2006

Previous: 7-2
Estimate: 8-1
Actual: 7-2

Dec 20, 2006

Previous: 7-2
Estimate: 9-0
Actual: 9-0

Jan 24, 2007

Previous: 9-0
Estimate: 8-1
Actual: 5-4

Anecdote: UK GDP was released first before BOE Meeting Minutes. GDP was very GBP Positive but market was waiting to trade BOE minutes.

Feb 21, 2007

Previous: 5-4
Estimate: 8-1
Actual: 7-2

Mar 21, 2007

Previous: 7-2
Estimate: 7-2
Actual: 8-1 (1 Rate Cut - NOT RAISE)

NOTE:
8 Wanted On Hold vs 7 expected = GBP Negative
1 voted for a Rate Cut instead of Raise = GBP Negative
Basically, I feel that it looks like a 11-0 to hold rates.

Apr 18, 2007

*BOE MINUTES: MPC VOTED 7-2 TO LEAVE RATES UNCHANGED AT 5.25 AT ITS APRIL 5TH MEETING
- Besley, Sentance, Voted To Hike Rates To 5.5%
- Saw No Compelling Case For A Hike
- Some MPC members believed UK consumption outlook was uncertain
- Some MPC members see Inflation falling toward target in Near-Term
- Dissenters saw strong upside inflation risk
- Dissenters were concerned about firms' ability to raise prices
- Dissenters said that demand is likely to sustain high inflation

Other news that coincided with the BOE minutes:
*(UK) MAR CLAIMANT COUNT RATE: 2.9% V 2.9%E;
JOBLESS CHANGE: -9.2 K V -5.0KE 04/18/2007 04:30:10

*(UK) FEB ILO UNEMPLOYMENT RATE: 5.5% V 5.5%E

*(UK) FEB AVG. EARNINGS INC. BONUS: 4.6% V 4.2%E;
EARNINGS EX. BONUS: 3.6% V 3.6%E
- Manufacutring Unit Wage Cost: -0.6 % v 0.8% prior
- Average earnings including bonus highest since May of 2004

May 23, 2007

Previous: 7-2
Estimate: 8-1
Actual: 9-0

Jun 20, 2007

*(UK) BOE VOTED 5-4 TO KEEP RATES ON HOLD AT 5.50% AT JUNE 7 MEETING
- MPC members King, Gieve, Besley, Sentance Voted For Hike
- Majority: Saw Tentative Signs that prior interest rate hikes were taking effect
- Majority MPC: Noted Pay Growth Muted, Jobs Market "Subdued"
- Says debt pointed to measured hikes, did not want to surprise market and push up yield curve
- Saw some easing in house prices, spending, weaker price pressures
- Sais June rate hike could mean lower peak later
- MPC hawks stated that demand growth needed to slow below potential to meet CPI target
- Note: Governor King outvoted for only the second time
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