The Bank of England was unanimous in holding the base rate at 0.5%.
The Bank of England was unanimous in holding the base rate at 0.5%.
After six months of voting against his Monetary Policy Committee peers Ian McCafferty agreed to hold the base rate due to sluggish inflation.
The MPC also voted to maintain the quantitative easing programme at £375bn.
Bank of England Governor Mark Carney said it was a “straightforward” decision not to hike the base rate last month in the wake of collapsing oil prices and a lack of inflation.
Shortly before Chancellor George Osborne warned of a “dangerous cocktail of new threats” and Royal Bank of Scotland economists spoke of a “cataclysmic year”.
