Rates held at 0.1% as Bank of England increases support for the economy

The Bank of England’s Monetary Policy Committee has voted unanimously to maintain Bank Rate at 0.1%, but say that a "further easing of monetary policy is warranted".

The Bank of England will pump an extra £150bn into the economy as it warned the resurgence of Covid-19 will lead to a slower, bumpier recovery.

Tighter lockdown rules, including new restrictions in England, are expected to push the UK into another downturn.

While it is expected to avoid another recession, the Bank believes unemployment will rise sharply as government support schemes wind down.