The Bank of England's Monetary Policy Committee (MPC) broadly agreed to keep interest rates on hold at 5% this month.
Minutes from the MPC’s latest meeting reveal seven of the nine members voted to keep rates steady.
Tim Besley voted to raise the cost of borrowing to 5.25%, while David Blanchflower again voted to cut rates to 4.75%.
The MPC faces touch decisions to balance the risk of rising inflation, which hit 3.8% in June, with the possibility of a severe economic slowdown.
Analysts broadly expect the bank to keep rates on hold for the next few months, but Besley’s vote to raise interest rates has surprised financial markets.
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