Inflation hawks stand ground

Chris Papadopoullos
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BANK of England policy makers voted seven to two to hold interest rates at the beginning of December.

The decision was announced two weeks ago but the discussion and vote split were only revealed yesterday along with the minutes of the meeting. The two who voted for a rate hike were Ian McCafferty and Martin Weale, who have done so in all five meetings since August. The other seven voters believe inflation – which has fallen to one per cent – will fall further.