Difficult decisions for MPC

Commenting, Robert Sinclair, director of AMI, said: "The Bank of England's decision to maintain both rates and the quantitative easing programme was no surprise. It will however pile the pressure on next month's meeting when there will be real expectations for a clear direction from the Committee.

"The next round of data on inflation, GDP, Balance of Payments and unemployment will form an uneasy back-drop. It will not be a meeting for the faint-hearted."