The monetary policy committee (MPC) for the Bank of England has decided to hold the base interest rate at 0.5% for the 6th month in a row.

The decision does not come as a surprise to the industry and some experts believe the rate will stay at this low figure until next summer. Good news for borrowers but not so good for savers.

The Bank Of England also confirmed that it will continue its £175bn scheme of quantitative easing but will not extend it this month. In August the MPC injected £50bn into the economy to create up to £175bn on the UK's balance sheet.

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