The Bank of England has decided to hold the official interest rate at 0.50% – a decision widely tipped by City analysts.
The current level is the lowest in the Bank’s 315-year history.
Today’s decision to pause follows a series of rate reductions in previous months to try to limit the effects of the recession.
In March, base rates were cut from 1% to 0.5%.
In February, the Bank cut rates from 1.5% to 1% and in January dropped rates by 50bp to 1.5%.
