I can’t wait to see the minutes of yesterday’s MPC vote. Are we really expected to believe that this was a free vote – given the concerted nature of interest rate cuts around the world. Was there any vote at all? Was it unanimous for a 50 basis points cut? Were members told (by Mervyn King) they should vote for it? No doubt about it; the integrity of the monetary policy committee is today under question; or should be.
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Jim Pickard
Kiran Stacey

