The Bank’s Monetary Policy Committee has kept rates at 0.5% since March 2009 Bank of England policymaker Martin Weale has joined Andrew Sentance in voting for an interest rate rise.
According to minutes of the Monetary Policy Committee’s most recent meeting the MPC explicitly discussed the case for raising rates in January.
The minutes reveal that members considered economic conditions pointed towards a possible rise.
For most members the risks to inflation “in the medium term had probably shifted upwards,” the minutes said.
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