I am genuinely surprised. I would thought a 0.25pc cut was nailed on with recent data. Inflation fears obviously stayed their hand. Have’nt checked yet but I guess the FTSE will react badly.
The economic data remains mixed. It probably did not help that retailes and even some politicans have been calling for a rate cut - that just makes the bank more stubborn. Bear in mind that this is not the Fed, the BoE is concerned about inflation, and though they would not admit it, most members of the MPC would like to see house prices fall.
Also suprised, but I expect they’ll cut at the next meeting.