One Bank of England policymaker wanted to cut interest rates this month but some others considered hiking them before joining the majority who voted to keep borrowing costs pegged at 5%.
Minutes of the June 4-5 meeting, published today, showed most Monetary Policy Committee members thought the deteriorating inflation outlook ruled out the case for an immediate cut in interest rates.
'Although that position could change as information about the path of activity and inflation accumulated in the coming months,' the minutes said.
Since the bank's decision, figures have shown inflation hitting 3.3% and forcing Governor Mervyn King to write to the government explaining how the central bank plans to rein in price pressures.
In that letter, King said he was focused on the medium-term inflation outlook and expected slower growth to help bring inflation back towards the 2% target after a temporary spike.
Markets have moved to price in higher borrowing costs in the wake of strong inflation data but investors took King's comments as a sign that the BoE was in no rush to hike rates.
