Sentance remains lone supporter of interest rate rise

The minutes for the most recent meeting of the Committee show he wanted to raise rates by 0.25% to 0.75%, while the other eight members chose to maintain the level at 0.5%. He argued the "strength of global growth" and the "rebound in domestic demand" indicated the economy could withstand any fiscal tightening. The minutes record: "In this member's view, a well-communicated policy of gradually increasing Bank Rate would not destabilise business and consumer confidence and would reduce the risk of a sharper jolt to confidence from larger unexpected rises at a later stage." Sentance ...