By Jonathan Davies

The Bank of England has held interest rates at 0.5% for another month.

It means interest rates have now been at the record low of 0.5% for six years and three months, having been introduced in March 2009.

The Bank of England also kept its quantitative easing programme at £375 billion.

Speculation over when interest will rise has intensified over the past year, with the economic picture looking much brighter for the UK.

However, with low inflation turning into deflation, the Bank of England is not likely to make an adjustments any time soon.