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