By Jonathan Davies

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

The decision was widely expected after the Bank's chief economist Andrew Haldane said rates "could stay low for longer" as he was "gloomier" about the economy.

Interest rates have been at 0.5% since March 2009.

The Bank also kept its stimulus programme, known as quantitative easing, will be kept at £375m.

Howard Archer, an economist at IHS Global Insight, said: "It would now be a surprise if the Bank of England raised interest rates before the latter months of 2015, especially given the disinflationary pressures coming from very low oil prices.

"It looks highly improbable that there will be an interest rate hike before the May 2015 general election."

We'll find out how the Monetary Policy Committee (MPC), which sets interest rates, voted when the meeting minutes are published in around two weeks time.

The governor of the Bank of England Mark Carney recently warned that inflation in the UK is likely to fall below 1% next year.

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