The decision marks the fourth consecutive month interest rates have been held at this level, as part of a number of initiatives to curb the effects of the recession and boost lending.
The Monetary Policy Committee also said it would not change the levels of quantitative easing, maintaining the asset purchasing budget at £125bn.
Bank of England keeps rates at 0.5%
The Bank of England decided to keep interest rates at the historic low of 0.5% when it met on Thursday (9 July).
