monetary policy committee

Rates remain at 0.5%

'Any other decision would be a major surprise'

Hawkish outlook

Up against all major currencies

CPI drops to 3%

Hints at more hawkish tone

Fed strives to be ‘ahead of the curve’

The UK economy is heading in the right direction but there are a "number of years to go" before a full-blown recovery can be called, Bank of England (BoE) chief economist Spencer Dale has said.

MEET THE GUV'NOR

The Bank of England has held interest rates for the 50th month in a row and opted not to increase the size of its QE programme at its May meeting.