Signs of recovery are visible, but Bank of England warns that it will be slow

The Bank of England has held interest rates at 0.5% for the sixth month in a row, as the UK economy shows signs of recovery.

The announced the decision, and also said it would continue to pump up to £175bn into the economy.

It warned, however, that the impact of these policies would not be felt for a long time and that the climb out of the recession would be “slow are protracted”.