City traders raised questions over the credibility of Bank of England governor Andrew Bailey after the central bank's surprise decision to hold off on an interest-rate hike that futures markets had fully priced in.

The BoE decided to keep interest rates at 0.1%, rather than raise them to 0.25%, in a 7-to-2 vote. By a 6-to-3 vote, the central bank kept its quantitative easing programme unchanged that’s due to expire next month.