-Monetary Policy Committee members
Although Bank of England policy makers voted unanimously for the second consecutive month to keep monetary policy intact, however, difference in views of central bankers re-emerged. Two officials appeared to expect an increase in Bank Rate later in the year, while one member said that the next move is more likely to be a loosening rather than tightening. However, the minutes revealed that all MPC members expect interest rates to rise over the course of next three years. Last week the BoE published new forecasts that showed the UK economy will enjoy its quickest growth since 2006 this year, boosted by lower oil prices, and Governor Mark Carney said it was more likely to raise rates than loosen policy.
Meanwhile, Britain's unemployment rate unexpectedly dropped while wage growth soared and hit the highest level in 18 months. UK jobless rate declined to 5.7% in December, as employment reached another record high, the Office for National Statistics said. Employment surged by 103,000 to close to 31 million, the highest level since records began in 1971. Meanwhile, the number of people applying for Jobseeker's Allowance dropped 38,600 in January to 823,000, the 27th consecutive monthly fall. Also, total pay growth, which includes bonuses, climbed above expectations to 2.1%, up from 1.8% recorded in the preceding month. Excluding bonuses, earnings rose by 1.7%.
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