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| Bank of England maintains interest rates at 0.5% | Bank of England maintains interest rates at 0.5% |
| (36 minutes later) | |
| The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.5%. | The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.5%. |
| It has kept the key borrowing rate at that level since March 2009. | It has kept the key borrowing rate at that level since March 2009. |
| The MPC also said it would make no change to the £375bn of monetary stimulus it is providing through its quantitative easing (QE) programme. | The MPC also said it would make no change to the £375bn of monetary stimulus it is providing through its quantitative easing (QE) programme. |
| Last month, BoE governor Mark Carney said the central bank would not consider raising interest rates until the unemployment rate fell below 7%. | |
| That announcement is part of Mr Carney's policy of giving forward guidance. | That announcement is part of Mr Carney's policy of giving forward guidance. |
| The idea is to create more certainty for businesses and individuals about the course of interest rates, which may encourage borrowing and investment. | The idea is to create more certainty for businesses and individuals about the course of interest rates, which may encourage borrowing and investment. |
| He forecast that it would take about three years for unemployment to reach his target. | He forecast that it would take about three years for unemployment to reach his target. |
| Future rates | |
| But following recent, stronger data on the economy, some economists are now forecasting that Mr Carney might have to take action a little sooner. | But following recent, stronger data on the economy, some economists are now forecasting that Mr Carney might have to take action a little sooner. |
| On Wednesday, a report showed that activity in the UK service sector hit a six-year high. | |
| Reacting to that data, James Knightley from ING said: "We expect the BoE to be forced into tightening monetary policy well before the third quarter of 2016 that they are currently suggesting is the earliest point policy tightening will start." | |
| The BoE's September policy meeting took place on Tuesday and Wednesday, in order to allow Mr Carney to attend the G20 summit in Russia. | |
| There will be more details on this week's meeting when the minutes are published on 18 September. | |
| The minutes will show how many of the nine-strong MPC voted in favour of maintaining the stimulus programme at its current level. | |
| Two members have recently supported pumping more money into the economy. |