(20 August 2010 – UK) Minutes from the Bank of England’s monthly policy setting meeting has revealed that the board voted eight to one in favour of holding rates at the record low of 0.5 percent.The board also considered carefully whether to expand or withdraw emergency stimulus.
One policy maker voiced concerns about inflationary pressures and improvements in the economy therefore favoured lifting the rate by a quarter percentage point
Inflation edged down to 3.1 percent last month, but remains well above the government’s 2 percent target.
The central bank has kept rates at record lows as it tries to balance rising prices against a sputtering economic recovery.