//
According to Reuters, it reached a six-week high of $1.4943 against the dollar after the revelation one MPC member voted for an increase in the base rate when the body convened earlier this month, hinting that interest rates could climb sooner than has been expected.
Andrew Sentance voted in favour of raising the base rate from the current record low of 0.5 per cent to 0.75 per cent, however Commerzbank economist Peter Dixon was quoted by the news agency as saying Sentance "will remain in the minority for some time to come".
The minutes also showed all eight MPC members were unanimous in the decision to maintain the quantitative easing scheme at £200 billion.
Sterling's value got an additional boost by ratings agency Moody's giving its support to the Budget measures announced by chancellor George Osborne on Tuesday.
Posted by Greg Secker
