BOE Voted 6-3 to Hold Rate on Risks to Consumer Confidence

Bank of England policy makers voted 6-3 to keep interest rates on hold this month as the majority warned that tightening policy now could dampen consumer spending and hamper the recovery.

Andrew Sentance maintained his call for a half-point increase in the key rate from a record low of 0.5 percent while Chief Economist Spencer Dale and Martin Weale continued a push for a quarter-point increase. Governor Mervyn King and the other five members of the Monetary Policy Committee voted for no change. Adam Posen kept up a call for more bond purchases.