The Bank of England may recommence its money imprinting program in a fit to fend off a latent double-dip recession this has been revealed by the minutes from the last rate-locating gathering.

The Bank's monetary policy committee’s meeting in the month of July depicted that the members argued about the requirement for a more spur to the economy between the aggravating financial data.

Further the members also jot down that prices must be kept squat after the expenditure slash declared in the crisis Budget in the month of June that had stroked the viewpoint for the development of the economy.

The MPC nominated to put the bank rate at its record down by 0.5% however the decision was not undisputed. For the consecutive second month Hawk Andrew Sentance was the solitary voice in demanding for a hike in interest rates, stating the inflation that stays obstinately above the Bank's 2% target.

Almost all the members nominated in a 7-to-1 to put the rates on hold.