The Bank of England has held interest rates at the record low of 0.5% for the sixth month in a row.

It has also said it would continue to pump up to £175bn into the economy - so-called quantitative easing - but that it would not extend the programme.

The Bank remains cautious about recent reports that the downturn is over, and has warned recovery would be "slow and protracted" and that it would take months for the full impact of its policies to be felt.