Interest rates kept at 0.5%

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The Bank of England's Monetary Policy Committee (MPC) has held interest rates at 0.5% for the ninth consecutive month.

The decision was widely expected as inflation remains low, though the Government is expecting the Consumer Prices Index (CPI) to hit 3% next year. No changes were made to the quantitative easing programme after a further £25bn was pumped into the economy last month.

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