- MPC voted 3-5-1 to keep policy unchanged. Dale joined Sentence and Weale in voting for a hike, but Sentence is now calling for a 50bp hike. Dale is the BoE chief Economist and a career BoE employee, so his shift suggests that rate hikes are imminent.
- Fidelity says average 401K balances hit a 10yr high at the end of last week. The average account balance rose to $71,500 in 2010, up about 11 percent from the end of 2009 – Bloomberg
- Australian Wage Cost Index rose 3.9% YoY in 4Q vs 3.8% expected and 3.5% previously.