(Bloomberg) -- The Bloomberg Economics Bank of England Spectrometer demonstrates that the Monetary Policy Committee is on the cusp of lifting interest rates. Set against a backdrop of an economy operating with limited slack, BE expects that to be enough for the majority of the nine MPC members to vote for a rate increase on Aug. 2, with only Jon Cunliffe preferring to keep policy on hold. BE predicts a hike by a quarter point to 0.75 percent, the highest level in almost a decade.
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