Our data and economics editor Ed Conway has been reacting to the Bank of England's decision to hold interest rates at 5.25%. He says the decision is 'totally in line with expectations' but the 'interesting' point is how members voted. As we mentioned below, eight members voted to keep the rate the same and only one member opted to reduce the rate by 0.25%. In February, six members voted for a hold, two for a hike, and one for a cut.
'That is quite significant because you had two people that were pushing up, and they're no longer doing that,' Conway says. 'Actually, quite a few economists thought the split might have stayed the same this time around.'He explains the Bank tends to 'make the big moves' when the Monetary Policy Report is published - and the next one is due to be released in May.