Bank of England keeps interest rates at 0.5 per cent for 70th month in a row

Jessica Morris
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The Bank of England kept interest rates at historic lows again (Source: Getty)

The Bank of England's monetary policy committee (MPC) kicked off 2015 by keeping the base rate at 0.5 per cent.

It's the 70th consecutive month rates have been held at historic lows, and the last rise was way back in March 2009.

We'll have to wait until January 21 to find out who voted for what and why.

Minutes from last month's MPC meeting showed policy makers remained split on whether or not to hike interest rates. Two members -- Martin Weale and Ian McCafferty -- had again voted for an interest rate rise.

Nick Beecroft, senior market analyst at Saxo Capital Markets, thinks it'll be interesting to see if they've changed their minds:

This may come in light of increased concerns over disinflation in the UK given the plunge in inflation figures for November and the revelation this week that the euro area has descended into outright deflation, coupled with the possible upheavals implied by the impending Greek election.

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