The Bank of England held its Bank Rate at 3.75% in a 6-3 MPC vote as inflation sits at 2.6%, above target. Here's what it means for markets.

The Bank of England held interest rates at 3.75% in its first decision under PM Andy Burnham as inflation sits at 2.6% and oil prices decline.

Economists in the Shadow MPC said interest rates should be left at 3.75 per cent after results suggested inflation would not spiral.

A number of economists have predicted another seven-to-two vote in favour of holding the current rate.