"This week’s meeting of the Bank of England’s Monetary Policy Committee could see the first split votes of the current cycle. While there is certain to be a 9-0 vote on leaving interest rates at historical lows, there may be one or two votes in favour of reducing the level of asset purchases.

That would be a fairly cosmetic event, since there is still a majority in favour of support remaining at its current level. It would, however, drive the view that the landscape is changing and there is a change if not on the horizon, then certainly coming closer.

Andrew Haldane, the bank’s ex-Chief Economist, voted to cut the current round of intervention from £150 billion to £100 billion. That was seen as Haldane’s final act of the campaign over his final few months to convince the nation about how strong the recovery has been.

This week’s meeting of the Bank of England’s Monetary Policy Committee could see the first split votes of the current cycle. While there is certain to be a 9-0 vote on leaving interest rates at historical lows, there may be one or two votes in favour of reducing the level of asset purchases.

This week’s meeting will see how strong the views of Michael Saunders and Dave Ramsden are. They have both spoken recently of the need to tighten policy sooner rather than later. It is hard to discuss this issue factually since it is a completely new event and comes down to the opinion of those in the know.

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