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Base rate remains at 0.50%

Base rate remains at 0.50%

Category: Money

Updated: 09/05/2013
First Published: 09/05/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Bank of England's Monetary Policy Committee (MPC) has voted to keep base rate at its historic low of 0.50%.

The Government's quantitative easing programme will also remain at £375 billion, despite speculation that it may increase by a further £25 billion.

Minutes from last month's MPC meeting revealed three members had voted in favour of extra money being injected into the UK economy, including the current Governor of the Bank of England, Sir Mervyn King.

Today's decision marks the 50th consecutive month in which interest rates have stayed the same.

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