BoE holds interest rates at record low

Differences over the risks to Britain’s economy surfaced this month among the Bank of England officials who have voted to keep interest rates on hold, complicating the outlook for monetary policy.

Minutes of the Monetary Policy Committee’s November 5-6 meeting showed its members voted 7-2 for the fourth month in a row to maintain rates at their record low of 0.5%, where they have been since early 2009 when the financial crisis was raging.

But there was a “material spread of views” among the majority, the minutes said, sending sterling up against the dollar and British government bond prices lower.