Dubai – Mubasher: The Bank of England has held UK interest rates at the record low of 0.5%.

The bank's Monetary Policy Committee (MPC) voted by 8 to 1 to keep rates unchanged.

Ian McCafferty was the only committee member to disagree with the majority outlook and vote for a quarter-point rate rise for a third month in a row.

UK interest rates have now remained unchanged for more than six years.