The Bank of England Has Rarely Been This Split Over Inflation

This week’s interest-rate cut at the Bank of England was perhaps the most divisive yet under Andrew Bailey’s governorship.

Splits over how to squeeze out stubbornly high inflation have been common in recent years. However, Thursday’s vote saw the BOE’s two most senior voices on monetary policy pitted against the governor — an eyebrow-raising divide at a crucial moment given inflation is predicted to hit 4% in September.