BoE's MPC voted 8-1 to keep rates on hold

The Bank of England's rate-setting body voted 8-1 to keep interest rates unchanged at its 8 March meeting, with David Blanchflower alone voting for a quarter point cut, minutes published Wednesday 21 March showed.

"The initial recorded outturns for recent wage settlements and relatively subdued inflation expectations led the Committee to judge that the upside risks to inflation from wage growth might have started to diminish," they said.

For Blanchflower, the news over the last month was enough