Bank base rateThe Bank of England Monetary Policy Committee has voted to keep base rate at a record-low 0.5 per cent for the 77th consecutive month.

The Bank’s base rate has sat at 0.5 per cent since March 2009.

The Bank’s Monetary Policy Committee has also voted to keep the quantitative easing programme at £375bn, a level that has been maintained since July 2012, when it was increased by £50bn.

Just one member of the Monetary Policy Committee voted to increase the base rate at this week’s meeting.

The minutes from this week’s meeting, published today, show Ian McCafferty voted to increase the base rate by 25 basis points to 0.75 per cent.

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