BoE holds interest rates but hints at action in August
Sterling extends gains as the central bank awaits more economic data from the referendum aftermath
The Bank of England (BoE) unexpectedly held interest rates at its July meeting, with all but one member of the Monetary Policy Committee (MPC) voting for no change in the policy rate, despite market participants anticipating a rate cut at the MPC's first meeting since the UK voted to leave the European Union.
While the central bank did not ease its monetary policy, it hinted at further measures at the next meeting on August 4 in the press release accompanying the announcement to hold the key
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