Low inflation worries prompt retreat from rate rise by Bank of England

Section:

By Denise Roland
The Telegraph, London
Wednesday, January 21, 2015

Bank of England policymakers voted unanimously to keep rates on hold in January, in a surprise about-turn for the two dissenters Martin Weale and Ian McCafferty.

All nine members of the bank's monetary policy committee voted to hold rates at 0.5 percent.

The vote signalled a change of heart from the committee's two main hawks -- Martin Weale and Ian McCafferty -- who have been pushing for a rate rise since August.

Minutes from the meeting on January 8 showed that the pair's decision to stop voting for a rate rise was driven by concerns that a rise in interest rates would increase the risk of prolonged low inflation. ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/bank-of-england/11359404/Lowflation-w...



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