Interest rates to stay the same

The Bank of England today left interest rates unchanged on the first anniversary of the Government's rescue operation for the British banking system. [itnplayer id="embedvideoplayer_9a717f65d190a04daad76adc3dbf3f9d"] The Bank of England today left interest rates unchanged on the first anniversary of the Government's rescue operation for the British banking system. Rate-setters held back from further aid for the economy today despite concerns over the fragility of the UK's pull out of recession. The Monetary Policy Committee voted to keep rates at their 0.5 per cent record low and continue with its £175 billion programme to boost the money supply. It was a year ago today when the MPC made the first of a series of cuts in the interest rates, bringing them down to 4.5 per cent, and on the same day the banks were bailed out with a £50 billion rescue package. The Government is currently almost £3.3 billion out of pocket on its stakes in Lloyds and Royal Bank of Scotland 12 months on from its dramatic move. Despite a stock market rally in the past six months - including the FTSE 100's best quarter ever between July and September - the Government is about £260 million down on its 70 per cent stake in RBS and £3 billion down on Lloyds. Today Shropshire finance and business leaders said it was too soon to tell whether the unprecedented move to bail out the banks was a success.