The Bank of England left its key interest rate at a record lowand signaled it's readying stimulus for August as the economy reelsfrom Britain's decision to quit the European Union.

The nine-member Monetary Policy Committee, led by Governor MarkCarney, voted 8-1 to keep the benchmark at 0.5 percent, with onlyGertjan Vlieghe saying the outlook justified an immediatereduction. The decision is likely to shock investors, who hadpriced in more than an 80 percent chance the rate would be lowered.While policy makers discussed what measures could help the economy,they stopped short of detailing what those might be.

“Most members of the committee expect monetary policy to beloosened in August,” officials said, according to the minutes oftheir July 13 meeting. “The committee discussed various easingoptions and combinations thereof. The exact extent of anyadditional stimulus measures will be based on the committee'supdated forecast, and their composition will take account of anyinteractions with the financial system.”