Bank unanimous against rate hikes despite raised growth forecasts

Turns out the Bank of England's Monetary Policy Committee was unanimously against rate hikes at their last meeting, with all nine members voting against a change in policy in rates or asset purchases.

That's despite the fact that the Bank's own survey data now points to two per cent growth over the second half of this year.

On house prices, the minutes revealed that "indicators pointed to continued house price rises". The worry we have here is not that these price increases are the result of a housing bubble - but that the high costs of housing will remain permanent.