Bank of England votes 7-2 as Greece survives vote

28 July, 2011


The Bank of England has revealed its interest-rate setting committee voted 7-2 to keep interest rates on hold in June.

New member Ben Broadbent voted for no change, replacing ex-member Andrew Sentance who was a supporter of higher interest rates.

In a blow for the Pound, interest rate rises this year are now seen as even less likely, causing the value of sterling to fall this morning.

In Greece, the government has also passed a vote of confidence ahead of proposed austerity measures and another ECB/IMF bailout, adding strength to the Euro and decreasing exchange rates further for those of you sending money to Europe.