Don't bank on a UK rate cut

- By FX Markets Staff
- @FXMarkets_
- 27 Jun 2005

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Last week's Monetary Policy Committee (MPC) minutes have significantly raised expectations of a near-term UK rate cut. With two of the nine-member committee voting for an ease in June, a cut is now, in many minds, merely a question of when, not if. I do not believe the decision is that clear cut.

Turning first to the practicalities of the MPC, June was the last meeting for Marian Bell (one of the two doves), and at the July gathering she will be replaced by David Walton. It is generally expected

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