The Bank of England’s Monetary Policy Committee (MPC) has voted hold the Bank Rate at 0.50%.

This means the rate has remained unchanged now for the 32nd consecutive month.

The MPC also made no change to the Quantitative Easing programme.

Barry Naisbitt, chief economist at Santander, said: “With the members of the Monetary Policy Committee (MPC) having voted to hold rates and extend the quantitative easing programme by £75 billion last month