Committee backs rate rise

The British interest rate increase, ordered last month, was approved by a unanimous vote of the committee of bankers and economists…

The British interest rate increase, ordered last month, was approved by a unanimous vote of the committee of bankers and economists which now has the power to set rates. The minutes of the Bank of England's Monetary Policy Committee showed that the committee believed that any delay on raising rates would increase the risk of inflation in the British economy. The minutes relate to the meeting held on June 6th, when interest rates were raised by 0.25 per cent to 6.5 per cent. - (PA)

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