Seven members of the Bank of England’s Monetary Policy Committee voted to maintain the base rate at 5.25% in February – while two members voted for another rise.
Minutes of the meeting reveal that the governor Mervyn King, Rachel Lomax, John Gieve, Kate Barker, Charles Bean, David Blanchflower and Paul Tucker voted in favour of rates staying at 5.25%.
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Tim Besley and Andrew Sentance voted against, preferring an increase in Bank base rate to 5.5%.
The Bank last increased the rate in January – a move that surprised many commentators. The rise to 5.25% was not expected until February. Therefore, there were question marks over what the Bank would decide to do this month.
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