By Marcus Leach

The interest rate has been maintained at 0.5%, the same it has been since March 2009, by the Bank of England's Monetary Policy Committee (MPC).

The MPC have also kept the current level of quantitative easing (QE), £375 billion, in the monthly meeting.

Unlike last month's interest rate announcement, the first under the new Bank governor, Mark Carney, the MPC made no further comment on policy.

The MPC will make an announcement about whether it will adopt a policy of "forward guidance", a ploy that gives clues about future moves and helps investors to plan ahead, next week.

“No change is no surprise. The most important announcement from the Bank of England comes next week with the inflation report," Graeme Leach, Chief Economist at the Institute of Directors, said.

"This is when we’ll see how much the Bank’s view of the economy has improved since the last report in May.

"Given the sustained improvement in the broad money supply we’ve seen this year, the Bank should be raising its growth forecast. However, it remains uncertain just how much weight the Bank of England places on money supply figures.”

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