The Bank of England has voted to leave interest rates on hold at 4%, but a knife-edge split on its Monetary Policy Committee suggests a cut may be coming very soon. The nine members of the Bank's MPC voted 5-4 in favour of leaving borrowing costs unchanged, in the face of higher-than-usual inflation in recent months. The governor, Andrew Bailey, said: "We held interest rates at 4% today. We still think rates are on a gradual path downwards, but we need to be sure that inflation is on track to return to our 2% target before we cut them again." Read more: https://news.sky.com/story/interest-rates-held-after-knife-edge-vote-13464939 #interestrates #money #economy #bankofengland SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales