The Bank of England's Monetary Policy Committee split 8-1 in favour of leaving Bank Rate unchanged at its May meeting, with MPC MemberBlanchflower backing a cut of 25bp. The minutes make clear that the majority of the MPC was concerned that, with inflation already at 3% in April, a rate cut could create the misleading impression that the MPC was not sufficiently focused on meeting the CPI target: "A further reduction in Bank Rate this month could create the impression that the Committee was trying to stabilise output growth rather than maintaining its focus on the inflation target."