The Bank of England is not "addicted" to quantitative easing — a word that should not be used because it has a "very damaging meaning for many people who are suffering", governor Andrew Bailey has said.

Bailey's comments came as the central bank announced that it would maintain interest rates at 0.1% and press ahead with the last part of its £895bn quantitative easing programme, which sees the bank buy up bonds in a bid to put downward pressure on borrowing rates.