Three-way split underlines Bank's dilemma

The Bank of England's April vote saw members of the Monetary Policy Committee (MPC) backing three separate options for the first time since May 2006, minutes of the meeting published on Wednesday reveal.

"The three-way split is really a reflection of the difficulties faced by the MPC in balancing downside risks to growth against upside in inflation and inflation expectations," said Michael Saunders, an economist at Citi, a bank. "Given the difficulties and complexities of the economic situati