The move was widely expected following BoE governor Mark Carney's policy of giving forward guidance.
Last month Carney said the BoE would not consider raising interest rates until the unemployment rate fell below 7%.
Interest rates have now remained at 0.5% for a total of 55 months having initially being dropped in March 2009.
The MPC also said it confirmed that there would be no change to the level of quantitative easing that it is providing which will remain at £375bn.
Simon Collins, product technical manager at John Charcol, said: “Unsurprisingly there was no change in either the bank rate, or the level of quantitative easing from the MPC today.
“Since the new governor’s forward guidance was released back on the 7 August, there’s been a spike in swap rates which has led to fears that the bank rate may rise slightly sooner than predicted.”
Such fears have also been fuelled strong economic growth. On Wednesday the business activity index registered 60.5 in August, the highest reading in more than six and a half years.
It also showed that backlogs of work are running at the highest level in more than 13 years.
On Tuesday the OECD increased its growth forecast for the UK economy to 1.5% from an earlier estimate of 0.8%.
It said UK growth had gained momentum through the first half of the year.
Ben Thompson, managing director, Legal & General Mortgage Club, said: “Mark Carney’s introduction of forward guidance has removed any uncertainty from the Monetary Policy Committee’s base rate decision. We think forward guidance will enable lenders to increase their product innovation which will be good for mortgage borrowers. Confidence is still creeping up in the mortgage market with low rates and the Help-to-Buy scheme beginning to have an impact.
“It was also encouraging to see the government’s New Buy initiative figures coming out this morning showing more than 3,500 home purchases have been completed. What the government needs to look at next is the lack of appropriate housing which needs to be addressed If the housing market is to continue to grow over the coming years.”
