Unsurprisingly, the Bank of England has voted to keep interest rates at 3.75 per cent. The Bank’s Monetary Policy Committee (MPC), which decides these things, split 7-2 in favour of the decision.

A hold in rates is welcome but had largely been priced in already, given yesterday’s cooler-than-expected inflation figures, which saw the consumer price index increase by an unchanged 2.8 per cent. Then, if it was not already a certainty, this morning’s figures on the jobs market confirmed things, with a fall in the........

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