Gary Ellis, partner at Clive Owen LLP Inflation was on the mind of some members of the North East Shadow MPC, although only one felt now was the time for a small rise in the interest rate. The majority of members voted to hold this month. The MPC is a partnership between The Northern Echo and Clive Owen LLP, which considers the state of the region’s economy and gives experts from a variety of sectors the opportunity to argue their case for a shift, or hold, in the rate. Graham Robb, senior partner at Recognition PR, said: “I would like to see a minor increase in interest rates to head off inflation pressures and protect those on fixed income who may be relying on savings. However, I acknowledge this will cost the government a lot of money and is unlikely to happen.”