Inflation has remained consistently high this year, despite a 0.2% fall in the last two months. But the other MPC members voted to keep rates at the record low and leave the £200bn of quantitative easing unchanged.
The minutes said: “In the light of the news over the month, it seemed likely that growth would be weaker than previously expected… The weight of evidence from both home and abroad continued to indicate that the margin of spare capacity was likely to bear down on inflation and bring it back to the target in the medium once the impact of temporary factors had worn off.”
Sentance has raised concerns about inflation because it has remained above target for some time now and is “likely to remain above target for some months,” the minutes said.
