Bank of England interest rate stays at record 0.5%

The Bank of England kept interest rates at a record low yesterday, as policymakers gave more weight to the risks from low inflation and a weak global economic outlook than to a strong recovery at home.

The Bank’s monetary policy committee, as expected, left its bank rate at 0.5%, where it has been since the depths of the financial crisis nearly six years ago, and made no statement.

Britain’s consumer-led recovery looks set to slow down only modestly going into 2015, but economists and financial markets expect no rate hike until deep into next year.