Bank of England holds

The Bank of England left its benchmark rate at 5% on Thursday.

The decision was widely expected, with commentators viewing the Inflation Report press conference, to be held on 13 August, as the most appropriate forum for the Bank to indicate a rate change.

But analysts stressed that the MPC's deliberations will have been a tight, tense affair. "It may well have been another three-way split between a vote to cut, one or more votes to hike, and a majority for unchanged," said Michael Saunders,

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