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Interest rates stay at 0.5%

The Bank of England has maintained interest rates at 0.5% which have now been at the same rate for a record three years.

The Bank’s Monetary Policy Committee has also chosen not to increase its programme of quantitative easing (QE) which pumps fresh money in the banking system in an attempt to boost lending.

UK saw £50 billion injected through QE in July raising the total amount to £375bn.

The Bank of England said: “The scale of the programme will be kept under review.”

Analysts believe the Bank will wait until November to access the impact of the previous round of QE.

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