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| Version 0 | Version 1 |
|---|---|
| UK interest rates held at 0.5% | UK interest rates held at 0.5% |
| (35 minutes later) | |
| The Bank of England has held the UK's main interest rate at 0.5% despite intense speculation that it would cut rates. | The Bank of England has held the UK's main interest rate at 0.5% despite intense speculation that it would cut rates. |
| The Monetary Policy Committee voted 8-1 to leave rates unchanged, but minutes of the meeting showed most members think the Bank will act next month. | The Monetary Policy Committee voted 8-1 to leave rates unchanged, but minutes of the meeting showed most members think the Bank will act next month. |
| Both the FTSE 100 and FTSE 250 share indexes fell, although sterling jumped in the wake of the decision. | |
| Financial markets had priced in an 80% chance of the Bank cutting rates. | |
| The Bank said: "The precise size and nature of any stimulatory measures will be determined during the August forecast and Inflation Report round." | |
| Analysis: Kamal Ahmed, BBC economics editor | |
| The MPC is dealing with two competing forces. First, a slowdown in economic growth following the referendum vote which many economists believe could tip the economy into recession. | |
| Second, a possible increase in inflation sparked by the fall in the value of sterling. At the moment the data on the former is limited. | |
| Read more from Kamal here. | |
| The Bank said that some businesses were starting to delay investment projects and postpone recruitment decisions, while a "significant weakening" in activity in the housing market was expected. | |
| "Taken together, these indicators suggest economic activity is likely to weaken in the near term," it said. | |
| Aberdeen Asset Management economist Paul Diggle said the Bank had decided that patience is a virtue. | |
| "The next meeting is only three weeks away, and by then Carney and his colleagues will have a few extra post-referendum data points to digest as well as a new set of forecasts," he said. | |
| "The market should get its way then, with an interest rate cut likely and renewed quantitative easing possible." | |
| Interest rates have remained on hold since the Bank cut to the record low of 0.5% in March 2009. | Interest rates have remained on hold since the Bank cut to the record low of 0.5% in March 2009. |