Monetary Policy Committee members divided over effect of housing slump on inflation

[Sapiens]

http://business.timesonline.co.uk/to...cle3980747.ece

Any cuts appear likely to meet resistance from a more hawkish MPC faction, as the minutes spelled out clear divisions within the committee. The more hardline group argued this month that the economy had shown “considerable resilience in the face of variation in credit conditions”. This group also believed that it was possible that spending by consumers and companies “would be little affected by the current pressures on banks' balance sheets” from the credit crunch

What planet are they on? Poor Brits, they will get socked pretty bad.