The MPC has also decided to leave unchanged the scale of the quantitative easing (QE) asset purchase programme (effectively printing money) at £375bn.
The last time that the British interest rate was changed was during the height of the financial crisis when it was slashed to its present rate in March of 2009.
The European Central Bank (ECB) has yet to make its decision regarding the interest rate of the beleaguered single currency this month.
The ECB cut rates earlier this year to a new record low for the euro of 0.75%, and President Mario Draghi has stated that the institution will do whatever it takes to preserve the euro.
Source:
bankingtimes.co.uk
