Although the Bank of England has considered cutting interest rates below the record low level of 0.5%, some economists believe the Bank prefers to use quantitative easing. That involves injecting more money directly into the economy to help stimulate growth.
With the latest extension of QE launched only last month, there was no great expectation for any new announcements from the MPC today... However, the outlook for the UK economy remains fragile, particularly in light of the disappointing official data for the first half of the year and the recent slowdown in global momentum.
More top news
Cancer surgeon accused of conducting series of 'completely unnecessary' operations denies giving cancer-phobic GP an unneeded mastectomy.
Health workers are set to be given a 1% pay rise, the Government has announced.
Facebook app rolls out new Snapchat-like camera features allowing users to create and share 'stories' and add filters and masks to images.