Many economists predict that a further rate reduction will come at the Committee's meeting in November.
Related topic: uk economy
Markets are currently pricing in a 25% chance of another cut tomorrow.
UK GDP showed no month-on-month growth for the second month running in July.
GDP grew by 0.6% in the second quarter of this year.
Industry experts predict there could still be at least one more rate cut this year.
Adverse weather impacted the construction industry.
The UK is no longer in a technical recession after growth in Q1.
Inflation is down to its lowest in two and a half years, and well below the peak of 11.1% in October last year.
Real GDP still remains 0.1% lower in the three months to January than the previous quarter.
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