Bank of England holds interest rates at 0.5%

Fears over a further deterioration in the economy were raised by Bank of England members this month although policymakers voted unanimously in favour of holding the level of emergency support.

The nine-strong Monetary Policy Committee (MPC) voted unanimously in favour of holding interest rates at 0.5% and keeping the level of quantitative easing (QE) at £275bn, following October’s decision to inject a further £75bn into the economy.