THE Bank of The
The BoE is widely expected to be the first central bank in a major developed economy to raise rates with economists suggesting the move is likely to happen later this year or early in 2015.
Some MPC members have said the time is coming to ease off on stimulus after unemployment tumbled to 6.5 per cent in the three months to May from 7.8 percent a year earlier.
But others on the MPC point to very slow growth in wages as a sign that the recovery in the labour market has further to run before it starts to push up inflation, which was below target at 1.9 per cent in June.
THE Bank of