The Bank of England has held the interest rate at 3.75% but signalled that further cuts are now "likely" later in the year as inflation falls back to the Bank's 2% target faster than expected. Five members of the Monetary Policy Committee voted for a hold, while four wanted to cut it by 0.25 percentage points to 3.5%. Sky's Paul Kelso says the deciding vote went to Bank of England Governor Andrew Bailey. Read more: https://news.sky.com/story/money-live-consumer-personal-finance-tips-sky-news-latest-13040934 #skynews #bankofengland #uknews 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