European rates: UK and Norway on hold as Denmark and Poland cut

Bank of England artwork

Bank of England: Today the Bank of England's Monetary Policy Committee (MPC) voted to keep interest rates on hold at 0.5% and maintain the size of the quantitative easing programme at £375 billion ($580 billion).

Inflation in the UK is currently at 2.8%, above the Bank of England's target of 2% but within the 1%-3% band beyond which the governor must justify the outcome to the government. Growth in the UK remains stubbornly near zero, but the latest figure of 0.3% in the first quarter of the yea

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