In July the Bank Said Six Months Might Be Too Slow. It Hiked in Ninety-Four Days.
The July minutes, released at 23:50 UTC last night, record the Board noting that the market expected rate rises at intervals of about six months — and warning the pace could be faster.
The Bank then hiked ninety-four days after the previous increase, 51.6% of the expected interval. And in seven weeks the dissent changed sides: one hawk alone in July, two doves in September, policy landing on the hawk's number.