“While inflation was not quite as high as some anticipated yesterday, it remains above target and continues to weigh on households and businesses.

Against that backdrop, it’s little surprise the Bank has held its line and the market has largely priced in today’s decision.

The bigger question now is whether we will see another cut before the end of the year.

That prospect will rest heavily on the signals coming out of November’s Budget, which could determine how quickly confidence returns to both households and industry.”