Interest Rates Held at 0.1%

The Bank of England's Monetary Policy Committee has vote unanimously to maintain Bank Rate at 0.1%. It also signalled that it had no intention of raising interest rates until "significant progress" had been made in getting inflation back to the Bank's 2% target. It is currently at a five-year low of 0.2%.

The Committee noted that the outlook for the economy remains "unusually uncertain", noting that health concerns are continuing to drag on activity and the unemployment rate is projected to rise markedly.