UK interest rates held at 4.75%

Getty Images

UK interest rates will remain at 4.75% until at least next February after the Bank of England voted to hold borrowing costs.

In its final meeting of the year, the Bank's rate-setting committee decided against further cuts after recent figures showed an increase in both inflation and wage growth.

Bank governor Andrew Bailey has previously indicated that while rates will fall further - after two cuts this year - the decline would be gradual.

The Bank will next meet at the beginning of February when it will also give an update of its forecasts for the British economy.