Bank base rateThe 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.

Interest rates have remained on hold since the Bank cut to the record low of 0.5% in March 2009.

The FTSE 100 lost some earlier gains in the wake of the Bank’s decision.

Financial markets had priced in an 80% chance of the Bank cutting rates this month

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