Bank of England maintains base rate
The Bank of England has maintained the base rate at 0.5 per cent, making it almost two years since it last changed.
Quantitative easing also remained the same, with an asset purchase programme set at £200 billion.
The base rate has been kept constant since March 2009, when it dropped 0.5 percentage points.
Discussing the decision, chief economic adviser for the Confederation of British Industry Ian McCafferty said it "is not a surprise" the financial institution's Monetary Policy Committee opted to hold out on an increase.
He remarked: "The Bank is grappling with the need to balance the two conflicting issues of inflation and growth."
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Site editor Clare Francis said there is "no time to lose" in picking a fixed-rate option, as such arrangements are becoming increasingly expensive.
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