It's steady as she goes for the Bank on QE and rates

Money printing by the Bank of England has been put on hold along with interest rates.

The Bank of England’s Monetary Policy Committee, MPC, has decided against extending its quantitative easing, QE, programme by which it creates money to buy government bonds to stimulate growth.

To date it has bought £375bn worth of bonds.

The MPC is also keeping interest rates at 0.5%, maintaining a record low held since March 2009.

The decision comes in the wake of the latest figures showing 1pc growth in the UK economy in the three months to September and economists believe it is currently expanding by about 0.2pc quarter.