Bank of England voted 8-1 to hold rates

Minutes of the Bank of England's last Monetary Policy Committee meeting, released on Wednesday 25 January , showed that only dovish Stephen Nickell wanted to lower UK interest rates a quarter-point.

Nickell voted for a second month to lower the repurchase rate a quarter-point, the minutes of the 11-12 January meeting showed. The other members of the MPC favoured keeping rates at 4.5 percent for a fifth month.

``Business investment and exports had been weaker than expected but indicators of ser