The Bank of England’s Monetary Policy Committee (MPC) has yet again voted unanimously to maintain the Bank Rate at 0.75%.

The MPC has now left interest rates on hold for 13 months, after raising them from 0.5% to 0.75% in August 2018

Frances Haque, Santander UK’s chief economist, said: “The decision to hold rates was widely expected, given the outcome of Brexit is still hanging in the air.

“Although the economic data published so far for the third quarter of this year suggests that a recession should be avoided, many of the fundamentals of growth such as business investment and productivity remain weak, with the MPC clearly sticking to its cautious approach.

“Until there’s more clarity on the final Brexit outcome, it’s unlikely we’ll see a change in rates this year.”