The Bank of England’s Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.5%.

It has also decided to make no changes to the asset purchase facility.

The Bank Rate has now been at the same level for 46 consecutive months.

Anna Leach, the CBI’s head of economic analysis, said: “A change in monetary policy was unlikely this month, given the UK economy continues to send out mixed signals.

“Underlying economic conditions remain fairly flat and there are early signs that credit availability is being boosted by the Funding for Lending Scheme.

“We’re not expecting any change in monetary policy over the next few months, unless compelling evidence of a renewed downturn emerges.”