Bank of England leaves interest rates on hold in shock 5-3 split – business live

All today’s economic and financial news, including the latest UK interest rate decision at noon


Just in: The Mansion House Dinner has been cancelled, due to the Grenfell Tower disaster.

Mansion House dinner is to be cancelled

Statement from City of London Corporation “In the light of the tragedy at Grenfell Tower we are cancelling tonight’s Mansion House Dinner”

City of London cancels Mansion House dinner altogether, adding: “Our thoughts are focussed with the victims and their families and friends.”

Samuel Tombs of Pantheon Economics argues that it would be a mistake to raise UK interest rates now.

In case no one has said it yet on twitter… it would be madness to raise interest rates now when wages growth is below 2%.

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