BoE minutes show rate rise split
The Bank's chief economist, Charles Bean, remained opposed to the governor's chief on the need for further tightening, as did Rachel Lomax, deputy governor responsible for money policy, and David Blanchflower, one of the MPC's external members.
Data released yesterday showed that annual inflation fell to an eight-month low, but the wage inflation figures were more favourable: average earnings including bonuses rose by 3.5% in the quarter to May, compared with a year earlier, lower than the 3.6% increase which had been forecast.
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