The Committee reached its decisions in the context of the monetary policy guidance announced alongside the publication of the August 2013 Inflation Report. The Bank also said it will not think about raising rates until the unemployment rate falls to 7 percent.
In October, UK’s jobless rate fell for the second straight month to 7.4 percent, from 7.6 percent in September.
But the inflation rate is also on a downward trend. In November, prices decelerated for the second month in a row to 2.1 percent.