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No MPC members vote for rate rise

All nine of the Bank of England’s Monetary Policy Committee have voted to keep interest rates on hold at its August meeting.

Two members have regularly voted for an increase in a bid to tackle growing inflation, which stood at 4.4 per cent in July, however, both Spencer Dale and Martin Weale have gone with the majority following weaker economic data and market turmoil.

The Bank of England has held rates at 0.5 per cent since March 2009.

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