Bank holds rates and keeps QE at £325bn

The MPC kept the main interest rate at 0.5%, a record low it has been at since the height of the crisis, while maintaining the QE programme at £325bn. The MPC's decision comes after some surprisingly positive data in the last week. The Markit/CIPS UK Services PMI survey showed activity in the sector grew at the same pace in May as in April, defying expectations of a slowdown in growth. The survey index was 53.3 in May, unchanged from April, with a reading above 50 indicating growth. The services sector is the UK's main driver of GDP, accounting for about 74%. The move to leave r...