Bank holds rate at 0.5%, maintains QE at £375bn

Following its monthly meeting, the MPC also decided to maintain its quantitative easing (QE) asset purchase programme at £375bn. The last movement from the MPC came in July, when it boosted the QE programme by £50bn. It has held the record low base rate since March 2009, and both decisions were in line with economists' predictions. The Bank is expected to assess the impact of its most recent QE boost and the £80bn 'funding for lending' scheme before going ahead with any further changes. It said: "The committee expects the announced programme of asset purchases to take another tw...