ADVERTISEMENT
News » Money
Nov 19, 4:54 AM EST

Bank of England policymakers remain divided on interest rate increase

Business Video

Latest Business News
US new home sales edge up 0.7 percent in October to fastest pace since May

US stocks open little changed after a batch of mixed economic reports; Deere drops on outlook

Signed contracts to buy homes fall 1.1 percent in October

Stocks are little changed in early trading as investors head in to the Thanksgiving holiday

Despite positive economic signs, holiday shoppers will only spend if they get big discounts

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
IMF says Egypt's economy has begun to recover after 4 years of slow activity.

US economy on a roll as third-quarter growth revised higher

Global watchdog OECD calls on Europe to relax fiscal rules, increase stimulus

Japan central bank gov. says companies must raise wages, investment, says hoarding cash costly

Denny's, Prosensa, Tesla and Lions Gate are big market movers

German business confidence rises in November, ending 6 months of declines

Economists say broader immigration overhaul would drive more growth than Obama's actions

Puerto Rico's governor calls special legislative session to debate increase for oil tax

China cuts interest rates, ECB eyes more stimulus in efforts to reverse global slowdown

White House economists: Obama's immigration steps would expand labor force, boost wages

Buy AP Photo Reprints
Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

LONDON (AP) -- Divisions remain at the Bank of England on whether to raise interest rates, with policymakers voting 7-2 at their last meeting to keeping the main rate at a record low 0.5 percent.

Minutes released Wednesday from the Nov. 5-6 meeting show that policymakers retained the status quo even as Europe's third-largest economy grows. But with inflation at 1.3 percent, well below the 2 percent target, pressure to raise rates remains muted.

Ian McCafferty and Martin Weale were in the minority among policymakers in voting for an immediate rate rise. The two policymakers suggest there is evidence the labor market is tightening and that the bank should anticipate market pressure by raising rates in advance.

The Monetary Policy Committee voted unanimously to refrain from pumping money into the economy.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

 
ADVERTISEMENT