MPC voted 6-1 for latest rise in interest rate

MEMBERS of Bank of England's Monetary Policy Committee voted 6-1 to hike interest rates a quarter point to 4.75 per cent, minutes of their latest meeting have revealed.

Professor David Blanchflower, who lives in the United States, was the only member wanting to peg rates for the time being, although he did agree the principle of the rise.

Following the meeting economists predicted a further rise by November.