Only one member, Ian McCafferty, changed his mind and voted for a rate hike in the UK. This was less than 7:2 expected. The road to a UK rate hike seems long. It is now seen coming at June 2016 instead of May 2016 – far away in any case. The minutes and the inflation report also reveal a darker picture, that clearly contradicts the bullish comments from Carney.
GBP/USD falls sharply, from around 1.56 to 1.5540. Update: the fall extends to 1.5490. “Super Thursday” is a “Super Blow” for sterling.
Read the rest of the article UK MPC votes 8:1, hints about exchange rate – GBP/USD falls below 1.55