BoE minutes for January's rate decision showed that voting came in at 6-2-1, missing both forecasts and prior voting of 7-1-1.

Details showed that policy maker Martin Weale joined Andrew Sentance for a 25 basis points interest rate hike to absorb inflationary pressures that pushed the rate to 3.7% in December, while, on the other hand, Adam Posen insisted on adding 50 billion pounds to the APF to prop up recovery, while the majority opted to leave both borrowing cost and APF quantity steady.