9 Jan 2010

UK freeze on interest rates continues

4:56 pm on 9 January 2010

The Bank of England has held interest rates at 0.5%.

The cost of borrowing has been at a record low since March 2009. The BBC reports economists do not expect the bank to raise rates in the near term.

The bank's Monetary Policy Committee also maintained its programme of quantitative easing, or new money creation, at £200 billion.