The Bank Rate has been kept at 0.5%, it was announced this afternoon, with the record period of stability nearing the six year mark.

The Bank of England's Monetary Policy Committee voted to maintain it for another month at its meeting today.
The base rate has been unchanged for a record period, with the last time a change was made being March 2009.
The committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion. The latest inflation and output projections will be reported at 10.30am next Wednesday.

Nick Dixon, investment director at Aegon, said: "Another flat announcement from the MPC means that interest rates, as expected, will stay low and most likely remain flat until after the general election. 2015 risks continue to point downwards in terms of lower inflation and below-trend growth.

"The last rate hike was in 2007, three years before the iPad launch. So for many young adults the next rate rise will be their first and we are more likely to see a new iPad before a new rate rise."

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There has been some disagreement among board members in the last few months about the rate.

In August two of the nine committee members, who decide on the rate, wanted to raise it by 0.25%.
Ian McCafferty and Martin Weale voted against keeping the rate the same and called for the increase. But the rest of the committee opted to maintain it at 0.5%.

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