Talking of the rate of interest, the minutes from the Bank of England’s last meeting were released yesterday. There was just one dissenter from the MPC’s nine members. For the third month in a row, Stephen Nickell voted for lowering rates to 4.25%, the rest, worried about renewed energy in the housing market, voted for no change. The minutes said “there was some concern that a reduction in interest rates at this stage would provide further support to the housing market and consumption at a time when GDP growth was already strengthening.”

© Investment & Business News 2013