Bank of EnglandUK interest rates held at record low of 0.5% for another month

UK interest rates have been at 0.5% for five years. However, in June, Mr Carney said that interest rates could start to rise sooner than financial markets expected.

The size of the Bank’s economic stimulus programme – quantitative easing – was also unchanged at £375bn.

Debate over the timing of a rate rise has intensified, with Bank governor Mark Carney hinting recently that it could come by the end of this year.

In the minutes of the previous MPC meeting in July, all nine members of the committee voted to keep rates on hold.

Details of why the Bank’s Monetary Policy Committee (MPC) held rates will be published later this month.

The minutes for the latest MPC meeting are not due to be released until 20 August. If they reveal that some policymakers voted in favour of a rate rise it will be the first time the committee has been split since July 2011.

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