The Bank of England’s Monetary Policy Committee (MPC) has voted to hold interest rates at 0.75%

Frances Haque, Santander UK chief economist, said: “The decision to hold rates was widely expected by both the market and commentators, given the continued uncertainty around Brexit.

“The economic data published since the last MPC meeting is broadly in line with the Bank of England’s February inflation report forecasts. Given this out-turn the MPC continues to remain cautious in its approach, wanting to wait until the outcome on Brexit is known before raising rates further.

“The MPC will now likely wait until further clarity is forthcoming before hiking rates again.”