The Bank of England stood pat on monetary policy on Thursday to support the recovery and ensure that consumer price inflation returned to its 2.0% target sustainably.
As expected by economists, Bank Rate was kept at 0.1%, the stock of corporate bond purchases at £20bn and the stock of UK government bonds purchased at £875bn.
Unexpectedly however, the outgoing chief economist at the BoE, Andrew Haldane, voted against the third of those measures, voting instead for a reduction from £875bn to £825bn.
The pound spiked sharply lower immediately following news of the split decision but by 1205BST had regained its poise and was trading at 1.3905.
— More to follow —
