UK interest rates have been held at 0.5% once again by the Bank of England.

All nine members of the Bank’s Monetary Policy Committee (MPC) have voted to keep rates at their record low, where they have now been for seven years.

The decision to freeze rates comes amid worries about global growth and uncertainty ahead of the EU referendum.

The Bank said uncertainty in the run-up to the referendum on EU membership – to be held on 23rd June – had hit sterling, and that UK economic growth could slow.

“There appears to be increased uncertainty surrounding the forthcoming referendum,” policymakers said and

“That uncertainty is likely to have been a significant driver of the decline in sterling”, “It may also delay some spending decisions and depress growth of aggregate demand in the near term.”

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