The Bank of England’s Monetary Policy Committee (MPC) has voted unanimously to maintain Bank Rate at 0.1%.

Frances Haque, Santander UK chief economist, said: “The MPC’s decision to leave Bank Rate unchanged at 0.1% was expected this month given talks over a possible trade deal with the EU continue.

“However, should trade talks end without a deal, the Bank of England stands ready to intervene with support likely to be in the form of a combination of measures designed to support financial markets and the UK economy. If necessary, the Bank of England could enact these prior to its next meeting in February next year.

“Should a deal be struck then the Bank of England will continue to monitor the progress of the UK economy and if required – for example if a further full lockdown ensued – could provide additional support.”