Monetary Policy Committee votes 7-2 to leave borrowing costs at current record low of 0.1%
The Bank of England’s nine-strong monetary policy committee has the task of maintaining inflation at 2% over the medium term, or three years ahead. Despite a forecast showing the consumer prices index (CPI) measure of inflation will hit 5% in the new year, the committee voted 7-2 against raising interest rates, instead keeping them at 0.1% – their lowest on record.
