Bank of England holds interest rates at 5.25% despite hopes of cut

While the central bank voted to hold rates, governor Andrew Bailey said he is optimistic that things are moving in the right direction.

In a strong signal that the tide is turning among the rate-setters, two members of the Bank's nine-person Monetary Policy Committee (MPC) voted for interest rates to be cut by 0.25 percentage points, to 5%.

Read at www.independent.co.uk