Bank of England holds interest rates in February
No surprise as Bank Base Rate held at 0.5%.
Bank Base Rate has been held at 0.5%.
The Bank of England's Monetary Policy Committee (MPC) has opted to leave Bank Base Rate unmoved at its current record low level, where it has stood for nearly six years.
In recent months the members of the MPC were split on what to do with Base Rate, with two members regularly voting for an increase. However, with inflation plummeting to just 0.5%, last month's vote to freeze Base Rate was unanimous. We will find out later this month the exact breakdown of February's MPC vote.
An interest rate rise now doesn't look likely until 2016 according to the money markets.
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