Belfast Telegraph

Bank keeps rates at 0.5%

The Bank of England kept interest rates at a record .5% but stopped short of taking emergency action to kick-start the faltering UK economy.

Fears the UK is facing a double-dip recession have fuelled expectations that the Bank's Monetary Policy Committee will extend its £2bn quantitative easing programme - effectively printing more cash. Business leaders and economists say there are strong arguments in favour of upping the QE stock, but accept action is unlikely until later in the year.