Bank of England divided over interest rate cut

The balance of power on whether the Bank of England (BOE) cuts interest rates at its 100th meeting rests with an ex-journalist. There is also the tantalising prospect of the central bank governor being on the wrong side of the monetary policy decision in coming months for the first time. The minutes of the bank's most recent meeting on 7 July, published last week, showed a five/four split to keep the benchmark interest rate on hold at 4.75%. Richard Lambert, who joined the UK central bank's monetary policy committee in June 2003 after a decade as editor of the Financial Times, looks like ...