A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.
The Bank of England has again moved to temper expectations of an early rate rise, despite the UK unemployment rate dropping to close to the crucial 7% mark this morning.
Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.
The Bank of England's Monetary Policy Committee has resisted calls for further quantitative easing after leaving its programme of stimulus unchanged, with interest rates also kept on hold.
Each of the nine members of the Bank of England's Monetary Policy Committee (MPC) voted to hold interest rates at the historic low of 0.5% this month, minutes from their latest meeting show.