This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-23968862

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
Bank of England maintains interest rates at 0.5% Bank of England maintains interest rates at 0.5%
(about 1 hour 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%.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 ratesFuture 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.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." Reacting to that data, James Knightley from ING said interest rates might well go up more quickly than the Bank of England was currently indicating.
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. "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," he said.
The Bank'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.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.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.Two members have recently supported pumping more money into the economy.