UK emergency rate-cut decision was unanimous

The emergency 0.5% interest-rate cut in the UK at the height of the banking turmoil two weeks ago was given unanimous approval by Bank of England rate-setters, it was revealed today.

Members of the Bank’s Monetary Policy Committee (MPC) all voted in favour of plans to join central banks around the world in slashing rates in the chaos following the collapse of Lehman Brothers, minutes of the meeting showed.