Base rate kept on hold and no more QE

The Bank of England’s Monetary Policy Committee has today voted to keep the base rate on hold and maintain the size of the asset purchase programme.

At its January meeting the MPC opted to keep the base rate at its historic low of 0.5% and quantitative easing at £275bn.

In October the MPC voted unanimously to increase its quantitative easing programme by £75bn to £275bn.

This programme is expected to complete in February.