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The Bank of England’s rate setting committee has kept UK interest rates at 0.25 per cent.
Although, one of the nine on the Monetary Policy Committee (MPC), Kristin Forbes, spoke of her concern, she voted to raise rates.
This is the first time since July last year that the vote to maintain rates wasn’t unanimous.
Neil Wilson, markets analyst at ETX Capital, said: “The minutes paint a picture of a committee moving a lot closer to hiking rates than markets had realised,”
The Bank of England is expecting the UK economy to grow at a rate of two per cent.
The minutes from the latest MPC meeting suggested others may also be considering to vote for a rate rise.
The minutes said: “Some members noted that it would take relatively little further upside news on the prospects for activity or inflation for them to consider that a more immediate reduction in policy support might be warranted.”