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Bank of England to break interest rate tradition tomorrow

The Bank of England is to publish three previously-separate pieces of information on interest rates tomorrow in a bid to avoid a ‘drip feed’ of stories about the base rate.

In one day the Bank’s Monetary Policy Committee will publish its August interest rate decision, will make public the minutes of the MPC meeting which will reveal how many of its nine members voted for a base rate rise, and will publish its latest quarterly forecast for economic growth and inflation.

Previously these three have been published separately on different days.

The base rate has not changed from 0.5 per cent since March 2009 but suggestions by BoE governor Mark Carney have sharpened suggestions that a rise may be on the cards soon.

There has been speculation that of the MPC’s nine members, two previous supporters of an interest rate rise may back one tomorrow; a third member - who leaves the MPC in September - has also indicated in recent weeks that it may be time to ‘normalise’ interest rates.


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