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BOE Policy Makers Split as Weale, McCafferty Seek Rate Increase

From businessweek.com

The Bank of England said two policy makers wanted an interest-rate increase this month, marking the first split in more than three years and the first under Governor Mark Carney. Martin Weale and Ian McCafferty voted to increase the benchmark rate by 25 basis points from a record-low 0.5 percent, according to the minutes of the Monetary Policy Committee’s Aug. 6-7 meeting. The remaining seven members opted to keep the rate on hold, saying early tightening could leave the economy “vulnerable to shocks” and jeopardize indebted households. In their analysis, Weale and McCafferty said economic circumstances “were ... (full story)

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