MPC members reveal inflation fears

The Bank of England's Monetary Policy Committee (MPC) voted unanimously to hold fire on any changes to interest rates this month, but some members are growing increasingly concerned about inflation.

According to the minutes from the 7 - 8 April meeting, the committee said there was nothing over the previous month that had caused it to substantially alter its views on the medium-term outlook, but it noted a number of different opinions were emerging. "There was a range of views among Committee members about how the balance of risks to inflation and activity had altered over the past few months," the minutes report stated. Some MPC members are particularly concerned financial markets' inflation expectations were drifting up at a time when higher oil prices mean further above-target...