MPC has also decided not to change the scope of the quantitative easing program's £ 200 billion asset purchase.
The decision was widely expected, interest rates have not changed since the nadir of the financial crisis and weak growth means it is unlikely that the increase in the near future.
Although inflation has been and still is, far exceeding the target interest rate of 2% of the Bank of England governor, Mervyn King, has maintained its position and supported by low interest rates, arguing that inflation will naturally decrease, and that its current high level driven by external factors will not be significantly altered by lowering interest rates.
In the eurozone, the European Central Bank (ECB) raised rates twice already this year, taking interest rates of the single currency's record low of 1% to 1.5%.