Bank of England policy makers said the U.K. economy’s prospects remain positive and recent market turmoil related to China’s slowdown hasn’t shaken their view that the time for a rate increase is approaching. The nine-member Monetary Policy Committee voted 8-1 this week to keep its benchmark interest rate at a record-low 0.5 percent, with only Ian McCafferty dissenting. In their discussion, officials said any external headwinds must be “weighed against the prospects for a continued healthy domestic expansion.” “Global developments do not as yet appear sufficient to alter materially the central outlook described” in ... (full story)