By Jonathan Davies

The Bank of England has kept interest rates at the record low of 0.5% for another month.

The Bank also kept its quantitative easing (QE) programme at £375bn.

The decision to keep interest rates at 0.5% was widely expected and brings it closer to six years at the record low.

John Allan, National Chairman of the Federation of Small Businesses, said: “The decision to keep interest rates unchanged is the right one against the recent slow-down in growth and falls in inflation. Such stability should encourage businesses to go ahead with their plans to invest in their businesses, raise staff wages, and plan for growth. We continue to see no immediate case for interest rate rises, however policy makers should remain vigilant about further falls in inflation and external risks to the UK economy.”

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