BoE holds interest rates at 0.5%

The Bank of England's Monetary Policy Committee has once again kept interest rates on hold at a record low and left QE unchanged at £275bn.

Rates have remained at 0.5% since the last cut in March 2009. The MPC, which was widely expected to keep rates unchanged for the 33rd month in a row, last increased the size of its quantitative easing programme to £275bn back in October. The Bank said: "The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. "The Committee also voted to continue with its programme of asset purchases totalling £275bn financed by the issuance of central bank reserves." The Bank said it expects the current bout of QE t...