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Bank's monetary policy committee in three-way split on interest rates
Bank's monetary policy committee in three-way split on interest rates
Last Modified: 23 Jul 2008
By:
Faisal Islam
The Bank of England's monetary policy committee has shown a three-way split on interest rates - for only the second time in its history.
David Blanchflower, a perennial inflation dove, voted for a quarter-point cut as expected.
But one member, Tim Besley, wanted to raise rates and the committee record for July seems to hint that rising inflation may be pushing members in his direction.
The other seven committee members, however, voted to keep rates at 5 per cent.
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