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UK interest rates left unchanged

The Bank of England has voted unanimously to keep UK interest rates at a record low of 0.25%.

It said the next rate move could in either direction and follows the last move, which was a rate cut in August.

“Since November, long-term interest rates have risen internationally, including in the United Kingdom,” said the bank. “In part, this reflects expectations of looser fiscal policy in the United States which, if it materialises, will help to underpin the slightly greater momentum in the global economy evident in a range of data since the summer.

“At the same time, however, the global outlook has become more fragile, with risks in China, the euro area and some emerging markets, and an increase in policy uncertainty.”

The bank voted to make no changes to its bond buying programme, which means it will continue to buy and hold £435bn of UK government bonds and £10bn of corporate debt.

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