Minutes from the Monetary Policy Committee's monthly meeting, released today, show that Bank of England policymakers voted 6-3 to increase interest rates.
During the MPC’s meeting in June, rates were kept at 5.5% following a narrow vote of 5-4 to hold rates. The Bank Governor, Mervyn King, was among those voting for an interest rate hike on both occasions. Some observers have said that the MPC is in disagreement over further interest rate rise. The MPC has also received criticism for making rate rises before allowing the long term effects to settle in. Warren Bright, chief executive of propertyfinder.com, says: “There is clearly dissension in the MPC ranks over the right level for interest rates. After five interest rate increases, membe...
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