BoE keeps rates on hold

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The Bank of England has held interest rates at their record low of 0.5 per cent and kept the size of its quantitative easing (QE) programme unchanged at £375 billion.

Howard Archer, chief UK and European economist at IHS Global Insight, said: “We expect the Bank of England to deliver one £25bn portion of QE in the second quarter, taking the stock up to £400bn, with another £25bn occurring shortly after Mark Carney takes over as governor in July.”