Bank of England minutes show three-way split

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By Norma Cohen, Economics Correspondent

Published: October 20 2010 11:16 | Last updated: October 20 2010 11:16

The Bank of England’s monetary policy committee voted by seven to two to hold rates and monetary policy at its meeting earlier this month, with only one member supporting an increase in quantitative easing.

According to minutes of the meeting on October 6 and 7, released on Wednesday, the committee also opposed raising interest rates by 0.25 per cent from their current record low of 0.5 per cent by a majority of eight to one.

EDITOR’S CHOICEMinutes of the MPC meeting of October 6 and 7 - Oct-20Chancellor backs Bank of England action - Oct-09London shares steady ahead of spending review - Oct-20Osborne cuts to usher in ‘sober decade’ - Oct-19

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