The Bank of England's Monetary Policy Committee has voted to keep interest rates at 0.5% for another month.

The nine members voted 8-1 in favour, with Ian McCafferty the only member voting for a 0.25 percentage point increase, as he has done in the four previous votes.

The MPC said that inflation is expected to remain below 1% - half its target of 2% - until at least the second half of 2016.

Official figures show that inflation as measured by the Consumers Prices Index (CPI) was -0.1% in October. But the committee expects it to turn slightly positive in November.

David Kern, chief economist at the British Chambers of Commerce, said: "Even though the US may raise rates this month, the European Central Bank has eased policy even further, and global headwinds persist.

"With inflation not expected to start edging up until next year, or reach target until well into 2017, there is simply no need for the Bank to consider changing tack."

Chris Williamson, chief economist at Markit, said: "The ongoing reluctance to tighten policy contrasts with the more hawkish stance of US policymakers.

"Policymakers in the US... faced with an economy growing at a similar rate to the UK, as well as a similar level of unemployment and inflation and even lower wage growth, are sending a clear message that now's the time to start the process of normalising policy."