BoE deputy governor voted against rate rise

A dissenting voice to this month’s rise in UK interest rates said today there were no signs the economy had been “running too hot” ahead of the vote.

Deputy governor Rachel Lomax was one of two members of the Bank of England’s Monetary Policy Committee (MPC) to vote to keep interest rates on hold. The other seven members, including Governor Mervyn King, opted for a hike to 5% as part of efforts to keep inflation close to its 2% target.