'Very Average' Thursday: Industry reacts as rates remain a 2016 story

Fund managers and economists have reacted to the surprise news that only one MPC member voted for a rate rise this month, saying the UK economy is 'not out of the woods yet'.

This afternoon, the Bank of England unveiled the MPC's rate decision and meeting minutes alongside its Quarterly Inflation Report for the first time. Many also speculated 'Super Thursday' would be the day the central bank gave a clear indication of when interest rates would take their first move upwards. However, rates were held at 0.5% with just one member voting for a hike, fewer than initially predicted by analysts. In its Inflation Report, the Bank pointed to the Greek crisis as one of the reasons members voted to keep rates on hold, and the fact inflation is likely to remain l...