The Bank of England's Monetary Policy Committee (MPC) meeting for July saw the central bank leave the Bank Rate unchanged at 3.75%, as expected. This represents the fifth successive meeting where the central bank has been on hold.
Today's decision to leave rates unaltered was once again, not unanimous. There was a further hawkish shift in the voting breakdown, with the decision split at 6:3, with three members (Pill, Green and Mann) in favour of a 25bps rate hike (there were two votes for this at the June MPC).
