No further stimulus as interest rates held

The Bank of England's (BoE) Monetary Policy Committee has decided to keep interest rates at 0.5%, the record low they have been at since March 2009.

The Bank has also decided not to extend its quantitative easing (QE) stimulus programme, which has injected £375bn into the UK financial system.

BNP Paribas' Paul Mortimer Lee told the BBC's Nigel Cassidy that QE, which sees the BoE create money and use it to buy mainly government bonds, has not helped stimulate lending as it was intended to.

BBC News