MPC remains split on interest rates

Earlier this month, the committee decided to keep the bank rate at 0.5% for a record 26th month in a row, while the quantitative easing programme was maintained at £200bn. The minutes for the most recent meeting show six members voted to keep the current rate, with outgoing member Andrew Sentance opting for an increase to 1% and Spencer Dale and Martin Weale preferring a hike to 0.75%. Meanwhile, Adam Posen was the sole MPC member to call for a £50bn increase in the quantitative easing programme. The minutes say: "Overall, the balance between the upside and downside risks to the ou...