The Bank of England has resisted growing calls to deliver more stimulus to the economy while maintaining interest rates at the historic low of 0.5%.
As expected, the Monetary Policy Committee (MPC) left the quantitative easing (QE) programme unchanged at £200bn. The MPC is understood to have been split three ways over today's monthly decision, with Adam Posen voting for more QE and Andrew Sentance opting once again for a quarter-point rise in rates to combat inflation. Inflation has remained high, running at 3.1% in August, well above the Bank's 2% target.
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