Prior 4.25%Bank rate vote 6-3 vs 7-2-0 expected (Dhingra, Taylor, and Ramsden voted to cut by 25 bps instead)Underlying UK GDP growth appears to have remained weakThe labour market has continued to loosenThere remain two-sided risks to inflationA gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriateMonetary policy is not on a pre-set pathWill decide the appropriate degree of monetary policy restrictiveness at each meetingMonetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated furtherStatement details to follow.. This article was written by Justin Low at www.forexlive.com.