All today’s economic and financial news, including the latest UK interest rate decision at noon
- Latest: Three policymakers vote to raise rates
- Minutes show split between hawks and doves
- Forbes, Saunders and McCafferty want borrowing costs hiked
- But five policymakers vote to leave rates on hold
- Pound jumps, sending FTSE 100 sliding
Just in: The Mansion House Dinner has been cancelled, due to the Grenfell Tower disaster.
Mansion House dinner is to be cancelled
Statement from City of London Corporation “In the light of the tragedy at Grenfell Tower we are cancelling tonight’s Mansion House Dinner”
City of London cancels Mansion House dinner altogether, adding: “Our thoughts are focussed with the victims and their families and friends.”
Samuel Tombs of Pantheon Economics argues that it would be a mistake to raise UK interest rates now.
In case no one has said it yet on twitter… it would be madness to raise interest rates now when wages growth is below 2%.