The BoE minutes for the July meeting showed the same split among the MPC members for yet another month as they voted to keep the interest rate steady at 0.5% and the stock of asset purchases at 200 billion pounds and the results came as expected a split of 6-2-1.

Regarding Bank Rate, the decision was 7-2, as seven members of the Committee voted in favor of the proposition and Spencer Dale and Martin Weale voted against the proposition, preferring to increase Bank Rate by 25 basis points.

Regarding the stock of asset purchases, the decision was 8-1 as eight members of the Committee voted in favor of the proposition but Adam Posen voted against the proposition, preferring to increase the size of the asset purchase program by £50 billion to a total of £250 billion.