Status quo maintained as interest rates remain unchanged

AS Widely predicted, the Bank of England’s Monetary Policy Committee (MPC) has decided to keep interest rates unchanged at 0.5% and to take no further action on quantitative easing.

In the Budget Chancellor George Osborne tweaked the MPC's mandate saying it would now be able to consider more than just inflation when setting interest rates.

But many economists do not expect more stimulus until Mark Carney - currently Canada's central bank chief - becomes governor of the Bank of England in July.

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