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The Canadian Press - ONLINE EDITION

Bank of England minutes show UK policymakers united on keeping interest rates steady

LONDON - Policymakers at the Bank of England voted unanimously to keep interest rates at a record low of 0.5 per cent — unwilling to tamper with an economy that is returning to normal.

Minutes published Wednesday for the June meeting showed policymakers were united in voting to keep interest rates steady, particularly since inflation remained in check. But the minutes show that policymakers are looking for a sustained rise in real wages before acting. Such a rise would suggest that slack in the economy had been eroded.

They were also united in opting to refrain from pumping more money into the economy.

The bank's governor, Mark Carney, predicted last week that an interest rate hike might come sooner than markets expect — and many had expected some divisions on the committee.

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