Governor of the Bank of England Andrew Bailey. Photo: Reuters
The Bank of England (BoE) held interest rates at 4pc and left the prospect of more cuts later this year in doubt after policymakers voiced growing concerns over a resurgence in inflation.
The UK’s Monetary Policy Committee voted seven to two in favour of keeping rates unchanged, with long-standing doves Swati Dhingra and Alan Taylor backing another quarter-point cut. The decision and vote split were expected by economists.
source