In the May Bank of England monetary policy meeting the members of the Monetary Policy Committee were still split four ways to maintain the current monetary stance with 0.5% interest rate and 200 billion pound APF.

The majority of five MPC saw the need to preserve the current monetary stance. Sentance maintained his call for 50 bp increases in the bank rate, with Dale and Weale calling for 25 bp increase in the bank rate. On the other hand, Adam Posen maintained his call for 50 billion pounds increase in the APF to 250 billion pounds.