The Bank of England Monetary Policy Committee (MPC) has voted to leave the Bank Rate unchanged at 0.50% for the 30th month.

It also left the amount of Quantitative Easing unchanged at £200 billion.

Grenville Turner, group chief executive of Countrywide, said: “The MPC’s decision to keep base rates unchanged is unsurprising as concerns continue to grow about the considerable challenges facing the UK economy and the lack of progress in the economic recovery. The calls for the Bank of England to revive the economy with another round of quantitative easing is justified in order to boost bank lending and prevent the economy slipping back into recession.