Mar. 17, 2010 (United Press International) -- Bank of England meeting minutes released Wednesday show monetary policy decision-makers are concerned a weaker British pound could lead to higher inflation.
The BOE left bank-to-bank lending rates intact at 0.5 percent in the March 4 meeting and kept a $307 billion asset purchasing program in place.
The U.S. Federal Reserve on Tuesday decided to maintain its historically low interest rates of zero to 0.25 percent intact "for an extended period," and the Bank of Japan Wednesday left its lending rate at 0.1 percent, while also doubling the size of a lending program to keep liquidity in financial markets.
In Britain, minutes of the Monetary Policy Committee meeting revealed some members considered raising the lending rate that was reduced to 0.5 percent in March 2009, The Times of London Online reported.
"Members drew different inferences about how the balance of risks to inflation was evolving. Some members considered that the upside risks to inflation had increased slightly over the month; others felt that the balance of risks had not changed materially," the meeting minutes said.
