Weale raises prospect of another split over interest rates at Bank of England

MPC member says fall in oil prices provided breathing space, but little more, and that he could see himself voting for higher borrowing costs in coming months

The prospect of another split at the Bank of England over interest rates has emerged as one of its leading "hawks" says he could see himself voting for higher borrowing costs over the coming months.

Martin Weale, one of the four independent members of the Bank's nine-strong monetary policy committee, said that despite global worries about low inflation the decision about whether to raise interest rates was finely balanced.