Bank of England MPC Minutes 7/8 April

Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 April for the meeting of 7 and 8 April 2004. Eight of the nine MPC members opted to keep interest rates unchanged with only deputy governor Andrew Large supporting a quarter-point rate rise.

The deputy governor in charge of financial stability repeated his view that the build-up in consumer debt made households more vulnerable to ``shocks.''

``Sterling had strengthened'' since February and ``U.K. output data