BoE minutes show rate rise split

The Bank of England's Monetary Policy Committee (MPC) voted 6 to 3 to raise interest rates this month, according to the minutes of the July meeting published today. Kate Barker and Paul Tucker voted with the governor, Mervyn King, in favour of a rise of 25 basis points to 5.75%, having previously voted against a rate hike.

The Bank's chief economist, Charles Bean, remained opposed to the governor's chief on the need for further tightening, as did Rachel Lomax, deputy governor responsible for m