Bank of England interest rate cut 'unlikely'

British interest rates are unlikely to be cut below their historic lows, but Bank of England policymakers have left the door open for more cash to be pumped into the UK economy, a report revealed today.

Minutes of the November Monetary Policy Committee (MPC) meeting showed the bank effectively ruled out further reductions in interest rates, currently at 0.5%, saying it was "unlikely to wish to reduce Bank rate in the foreseeable future".