Bank of England policy makers voted unanimously to leave interest rates on hold this month but were divided over prospects for the recovery and the likelihood of when the subdued pace of wage growth would start to improve. 

All nine members of the Bank's Monetary Policy Committee (MPC) elected to leave interest rates on hold at 0.5%, where they have remained since 2009. 

Britain's emergence from the downturn has fuelled expectations of a coming increase though a fall in inflation, which tumbled to 
-0.1% in April, has pushed the likely timing of an increase well into next year. 

But today's minutes of the MPC meeting earlier this month showed that for two members, the decision on whether to hold or raise rates "remained finely balanced". 

Some members felt wages were likely to start to rise more quickly than in the Bank's latest projections as unemployment falls while others worried that pay growth would be more persistent, amid low inflation and disappointing productivity. 

The minutes revealed there were also a "range of views" on productivity and the pick-up of wasteful "slack" in the economy as well as the most likely future path for interest rates. 

The Bank of England targets returning inflation to its 2% target over the next couple of years and members' views on the shape of the recovery feed into when they think an interest rate rise would be needed to achieve that. 

MPC "hawks" might vote to raise rates should they fear inflation will go above target, despite it currently being at historic lows. 

Analysts said the minutes echoed sentiments expressed in the Bank of England's quarterly inflation report last week, which hinted at a rate rise in mid-2016, while cutting growth forecasts for the UK economy.