Bank of England keeps interest rates at historic low

Six years of interest rates at the historic low of 0.5% were marked yesterday as the Bank of England once more kept the cost of borrowing on hold.

They have been at the same level since March 2009 when policymakers took emergency action to stimulate the economy at the height of the financial crisis.

The recovery over the last couple of years has brought the prospect of a hike closer, but with inflation at a record low of 0.3% and expected to turn negative in coming months, there seems little reason for one yet.