But only one policymaker, Catherine Mann, wanted to match November's bigger 0.75 percentage point increase - the BoE's largest in more than 30 years - and two MPC members voted to keep rates on hold.
Sterling weakened against the U.S. dollar after the BoE's decision, falling to around $1.23, and it also declined against the euro.
"While the 50-basis-point increase in the Bank rate was as expected, the extent of the divisions across the committee is an eye-opener," Philip Shaw, an economist with Investec, said.
On Wednesday, the U.S. Federal Reserve also slowed the pace of its rate hikes while pointing to more tightening in 2023.
That 0.4 percentage point fall in the annual rate was the largest since July 2021.