Shares in housebuilders were boosted today after the Bank of England's historic "data dump" struck an unexpectedly dovish note.
Taylor Wimpey shares rose 2.19 per cent to 200.5p per share, while Persimmon was 1.22 per cent higher at 2,079p per share and Barratt Developments was 1.4 per cent higher at 650p per share.
Analysts had been expecting at least two members of the nine-strong monetary policy committee to vote for an interest rate rise for the first time this year – but in the end external member Ian McCafferty was the only one to break ranks with the rest of the committee.
That was good news for housebuilders: an interest rate rise would push up record low mortgage rates and dampen demand. Analysis by MoneySupermarket recently found mortgages were already creeping up in anticipation of a rate rise.