The decision by the Bank’s Monetary Policy Committee comes five years after the record low level was first introduced.
It is the first rate decision since the bank amended its “forward guidance” policy that linked borrowing rates to unemployment figures.
Rates are unlikely to rise before the spring of 2015, analysts believe.
The Bank also kept its £375bn quantitative easing (QE) programme unchanged.
The half-decade of ultra-low interest rates has seen returns on savings hammered, while mortgage borrowers have reaped the benefits of lower repayments.
The committee’s interest rate decision was the first to be based on “fuzzy guidance”, which links borrowing rates to the speed at which the economy uses up spare capacity, as measured by 18 indicators.
Howard Archer, chief economist at IHS Global Insight, said: “The Bank of England clearly wants to nurture recovery and not to risk choking it off by raising interest rates too early or too fast.”
The Bank is likely to raise the interest rate to about 1% over the course of 2015, then to 2% by the end of 2016, Mr Archer said.