9 Apr 2010

Bank of England holds interest rate

2:53 pm on 9 April 2010

UK interest rates have been held at a record low of 0.5% by the Bank of England.

The bank has also decided not to pump any more money into the British economy under its policy of quantitative easing.

Interest rates have now been at 0.5% since March 2009 and analysts do not expect any rate rises soon.

Meanwhile, the European Central Bank has kept the eurozone interest rate at a record-low level of 1% for the 11th consecutive month.