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The Bank of England's Monetary Policy Committee (MPC) released its latest minutes today. Two members, Ian McCafferty and Martin Weale, voted for the fifth consecutive month to raise interest rates to 0.75% from 0.5%.
Seven of the nine MPC members voted to keep interest rate at 0.5%.
The MPC members want to see further increases in wage growth before to raise interest rates.
The BoE expects that inflation will decline below 1% due to falling oil and food prices.
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