"The MPC decision today was always going to be a cut and dried affair, with the data over the last month being broadly positive in tone.
Most notably, survey data this week showed that activity in the service sector - by far the largest segment of the economy, accounting for around 66% of total output - grew at its fastest rate since February 2001.
Against this kind of backdrop, it is unsurprising that the MPC have adopted a wait and see approach this month.
However, we would not yet rule out a further cut in rates before the end of the year, particularly if the recent buoyancy of the consumer and housing markets fades away."
