Bank holds base rate at record low

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The Bank of England's (BoE) Monetary Policy Committee (MPC) has announced it will maintain interest rates at their historic low of 0.5%.

The last change in the base rate was a drop from 1% to 0.5% on 5 March 2009. The MPC has also voted to maintain the size of its asset purchase programme, at £375bn. The bank has previously said it will not consider a rate rise until the unemployment rate falls below 7%.    

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