BofA's Wood Calls the Split BOE Rate Vote 'Bizarre'

The transcript discusses the latest decision by the MPC, highlighting the unexpected hawkish stance of some members despite worsening economic data. It analyzes voting patterns, the impact of recent economic indicators like retail sales and wage growth, and the surprise in the voting outcome. The discussion also touches on future changes in the committee, particularly the departure of Kristen Forbes, and the implications for future interest rate decisions.

What was surprising about the MPC's recent decision?

• The decision was delayed.

• The decision was more hawkish than expected.

• The decision was unanimous.

• The decision was leaked early.

Which economic indicators were mentioned as performing below expectations?

• Export and import levels

• GDP and consumer confidence

• Inflation and unemployment

• Retail sales and wage growth

What was the expected vote outcome according to the speaker?

• A 5-3 vote

• A 7-1 vote

• A 6-2 vote

• A 4-4 vote

What is the significance of Kristen Forbes' departure from the committee?

• It increases the number of hawkish votes.

• It leads to a tie in votes.

• It has no impact on the committee.

• It decreases the number of hawkish votes.

What is a common behavior of members who vote for rate hikes?

• They change their vote frequently.

• They tend to vote for hikes consistently.

• They vote based on public opinion.

• They only vote for hikes once.