Bank set to defy rate cut calls

UK - The Bank of England's Monetary Policy Committee (MPC) is widely expected to leave UK interest rates unchanged, despite a mixed picture for the British economy. The MPC began its monthly meeting today, 1 August, and is due to reveal its interest rate decision at noon in London on 2 August.

Over the past few weeks, the chorus of calls for a rate cut has reached a new pitch, with industry and trade unions warning of a dangerous economic slowdown.

But most closely-watched indicators still poin