Bank of England MPC Minutes, 6 & 7 July

The minutes from the 6 & 7 July meeting of the Bank of England's Monetary Policy Committee published on Wednesday 20 July showed policy makers voted 5-4 to leave its benchmark interest rate unchanged at 4.75%.

Chief Economist Charlie Bean, Kate Barker, Stephen Nickell and new Monetary Policy Committee member David Walton argued in favour of a quarter-point reduction in rates in the July 6-7 meeting. Governor Mervyn King led the majority in favour of holding the rate unchanged for an 11th month

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