Bank of England MPC sees first dissent since 2011

Two members vote to raise interest rates for the first time since 2011

bank-of-england
Bank of England

Two members of the Bank of England's (BoE) nine-strong monetary policy committee (MPC) voted to raise the bank's benchmark interest rate last month, in the MPC's first split decision since 2011.

Ian McCafferty and Martin Weale voted to hike Bank rate by 25 basis points from its current level of 0.5%, where it has been since March 2009, according to minutes published today.

The two external members argued that an early increase would make good on the BoE's promise to raise interest rates

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.