Bank of England base rate held for the 54th consecutive month

The Bank of England's Monetary Policy Committee has maintained the Bank Rate at 0.5% for the 54th consecutive month. The Committee also voted to maintain quantitative easing at £375 billion. Howard Archer, chief UK economist for IHS Global Insight, told City A.M. newspaper: "The MPC is increasingly facing a real dilemma, resulting from the surprising strong demand that the economy is currently experiencing. "While this robust growth is a hugely welcome development following the economy's prolonged struggles, it is making the markets even more sceptical that the Bank of England will not raise interest rates." September 9, 2013