Bank of England again split over policy

The Bank of England's Monetary Policy Committee (MPC) has been divided again over interest rates and quantitative easing (QE), according to minutes of its last meeting.

In December the minutes showed that one of its nine members again wanted QE to be expanded, while another continued his call for interest rates to rise to 0.75 per cent from 0.5 per cent.

In each of the last three monthly MPC meetings, Andrew Sentance has called for rates to rise in order to cool inflation, while his colleague Adam Posen has voted for QE to be expanded.

However, eight MPC members voted for both rates and QE to stay unchanged.