The Bank of England voted to hold interest rates at five per cent, with policymakers signalling that they would take a “gradual” approach to lowering borrowing costs over the months ahead.
Eight members of the nine-strong Monetary Policy Committee (MPC) supported a hold, with only Swati Dhingra backing a second cut.
The decision was widely anticipated by markets, although the odds of a 25 basis point rate cut had crept up slightly in the days leading up to the decision.
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