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Interest rates to stay the same as Bank remains split
Business digest: March meeting of Monetary Policy Committee keeps rates at 0.5 per cent
Interest rates are to be held for the 25th month in a row, the Bank of England announced today, continuing the longest period that rates have stayed the same since 1950.
The minutes of the meeting, to be published in two weeks' time, will reveal how the MPC voted, but in February, a third of the nine-strong Monetary Policy Committee voted to increase the rate.
Andrew Sentance has been calling for a half point rise to one per cent, whilst the Bank's chief economist Spencer Dale and Martin Weale have been proposing a quarter point.
Another member, Adam Posen, believes that quantitative easing is still needed. The split in opinions in the MPC is indicative of the complex nature of the decision facing them. Economists are now predicting a quarter point increase in April.
Read a full report at the Daily Telegraph. ·
