BOEThe Bank of England’s Monetary Policy Committee (MPC) has voted to hold the Bank Rate at 0.5% and keep quantitative easing at its existing level.

UK interest rates have been held at a record low of 0.5% for another month by the Bank of England.

It also decided to maintain its quantitative easing programme, designed to stimulate lending in the economy, at the £375bn already spent.

The Bank’s Monetary Policy Committee has held rates at 0.5% since March 2009 to try to help economic recovery.

Until recently rates were expected to rise early next year, but analysts now think this could be pushed back.

The Bank warned last month that the inflation rate could fall to as low as 1% in the coming six months, well below its 2% target rate.

One factor in keeping inflation low has been the 25% fall in the oil price since the summer, which has cut fuel prices at the pump for motorists.

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