The Bank of England will maintain interest rates at 0.75 percent following a monetary policy committee (MPC) meeting.
Despite reports suggesting that the meeting was “on a knife edge”, the MPC voted by a majority of seven to two to keep the base rate the same.
In a statement, the MPC said it had seen signs of a pick-up in UK economic activity following the general election result, which saw the Conservative party secure a majority.
“Some survey indicators of output have increased recently, which could in part reflect a reduction in uncertainty, as well as potentially signalling a pick-up in growth in the...