MPC still split 6-3 over rate rise

Spencer Dale and Martin Weale repeated their calls to immediately increase the Bank Rate by 25 basis points. Andrew Sentance again argued for a 0.5% rise, according to the meeting minutes published today. Governor Mervyn King, deputy Paul Tucker and four other members voted to hold rates at their historic low of 0.5%. Meanwhile, eight members of the MPC again opted to maintain QE at £200bn, with Adam Posen calling for it to be increased by a further £50bn. The continued division within the MPC over how best to curb rising inflation - which jumped a further 0.4% to 4.4% in February ...