The Bank of England has held interest rates at the record low of 0.5% for the sixth consecutive month.
At the same time, the Bank’s Monetary Policy Committee (MPC) also voted to continue to pump £175 billion into the economy through its programme of quantitative easing.
Whilst it did not extend quantitative easing, the MPC said it would continue to keep the scale of this programme under review.
The announced £175 billion programme is expected to take a further two months to complete.
UK interest rate rise remains unlikely