UK interest rates: BoE keeps rates on hold at 4% in knife-edge decision
Bank signals possible cut as soon as next month
Bank signals possible cut as soon as next month

Vote expected to pass by narrow majority and to hang heavily on the views of governor Andrew Bailey

Monetary Policy Committee says borrowing costs may need to rise if energy shock continues to hit global economy

Decision follows data showing UK inflation remains stubbornly above target

A policy projection would improve monetary policy transparency and reduce guesswork for businesses and investors

Assessment from MPC adds to sell-off in gilts and prompts traders to increase bets on higher borrowing costs

Yields on 30-year gilts hit 28-year high on expectations BoE will raise rates two or three times to counter inflation threat