Bank of England

Bank of England governor Mervyn King has been knighted for his role in steering the UK through the financial crisis.

The Bank of England (BoE) today held interest rates at a record low as concerns about sluggish growth outweigh worries over high inflation.

The Bank of England is expected to hold interest rates at a record two-year low of 0.5% in today's interest decision as slowing global growth overshadows inflation fears.

A group of 55 economists believes the Monetary Policy Committee will maintain interest rates at 0.5% this week, as manufacturing and services surveys show the UK economy is slowing.

The Bank of England's Paul Fisher said he would consider making emergency bond purchases if the UK's economy suddenly slumped.

The Bank of England should raise interest rates by 0.5% in February next year, as the month will be a "window of opportunity" for policy change, said Stuart Thomson at Ignis.

Andrew Sentance, who yesterday stepped down as a member of the Bank of England (BoE) Monetary Policy Committee (MPC), has condemned the Bank's refusal to raise interest rates.

The Bank of England is "failing in its remit" to control rising inflation which could undermine demand for bonds, according to Artemis manager James Foster.

Andrew Sentance has warned against any further delay in raising rates in his last speech as a member of the Bank of England's Monetary Policy Committee.

Dale Spencer, chief economist at the Bank of England, said interest rates in the UK should rise even though the economic recovery has failed to take hold, according to the Financial Times.