Ooohhh – events on the Bank of England’s Monetary Policy Committee are getting interesting. Earlier this month, the MPC kept rates on hold at an all-time record low of 0.25pc.
We learnt last Thursday, though, that the decision was strikingly close – 5 votes to 3, rather than the predicted 7 to 1. External members Ian McCafferty and Michael Saunders joined Kristin Forbes, who has been backing a rate rise for several months. They were right to do so – not least as the admirable Forbes is about to leave the MPC.