The Bank of England’s Monetary Policy Committee has held interest rates at 0.1%.

The UK economy grew by 0.4% in October as the economic recovery continued to slow with the UK economy remaining around 8% below its pre-pandemic peak, according to the latest figures from the Office for National Statistics (ONS).

Wealth management and Financial Planning group Quilter said that while the UK economy expanded the most on record in the third quarter this is a catch-up and the bounce back has already begun to end.

The Bank of England has released another £150bn of quantitative easing (QE) to help prop up the economy as it enters a second national lockdown today.