BoE holds rates amid stronger than expected data

Growth and inflation forecasts revised up

The Bank of England has kept interest rates unchanged at 0.25% with members of the Monetary Policy Committee (MPC) unanimously voting to hold rates, while also raising inflation and growth forecasts.

In its November meeting, the MPC said all members of the nine-strong committee voted to keep rates unchanged. Although members had previously indicated in August there would be a further rate cut during 2016, the report said economic activity had been stronger than expected. "At the August meeting, a majority of committee members also expected to support a further cut in bank rate at one of the remaining MPC meetings of 2016 if the outlook remained broadly consistent with the one set out in the August Report. "In the three months since then, indicators of activity and business sent...