Bank of England
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Interest rates: Bank policymakers split 7-2 over rise

Two members of the Bank of England's Monetary Policy Committee (MPC) voted to raise interest rates in August, the first time in three years that policymakers have done so.

Minutes of the last MPC meeting showed that Ian McCafferty and Martin Weale voted for a 0.25% rise to 0.75%.

It means the nine-member MPC voted 7-2 to hold interest rates at their historic low of 0.5%.

BBC Business Editor Kamal Ahmed described the split as "a signal".

  • 20 Aug 2014
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