Bank holds rates at 0.5% again

Its quantitative easing programme was also maintained at £200bn. Today's widely held decision to hold the base rate comes as euro debt fears and a creaking US economy combine to unsettle markets. Rates have now been held at their historical lows since March 2009 as fears over the fragile economic recovery have outweighed inflation concerns. The CPI measure of inflation is currently 4.2%, more than double the Bank's target. UK GDP grew at a disappointing 0.2% in Q2 as consumers reigned in spending amid Government austerity measures, with the National Institute of Economic and Social...