The committee also decided not to add to its monetary stimulus programme of quantitative easing (QE), under which it has already made £375bn of bond purchases between March 2009 and October 2012.
Unemployment in the UK stands at 7.6%, according to the Office for National Statistics, while inflation, as measured by the consumer prices index, fell to 2.2% in October.
The Bank of England has said it expects to see growth of 0.9% in the fourth quarter.