MPC remains split on interest rates

The Bank of England's Monetary Policy Committee (MPC) has remained split three ways on interest rates, minutes of its latest meeting show.

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...