What keeps the hawks and doves flitting about

Article Abstract:

There has been very little consistency in the way in which the members of the Bank of England's Monetary Policy Committee have assessed how interest rates should be adjusted to meet the government's inflation target. Over recent months, there have been significant divisions between committee members over whether it is necessary to do more to meet the inflation target. There are long-term problems associated with setting interest rates, and this makes it almost impossible to make consistent decisions.

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Bank warns of further rate rise to check inflation

Article Abstract:

It is likely that a further rise in interest rates will be required if inflation is to remain on target, according to the Bank of England. This stance was unexpected, especially in the light of positive developments in earnings and unemployment. Representatives of business and trade unions have reacted with a certain degree of puzzlement to the Bank of England's views, stating that they feel that there is no need for interest rates to rise again.

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