Bank of England

The Monetary Policy Committee (MPC) was again divided six-three against a rate rise earlier this month, minutes from the April meeting reveal.

The Monetary Policy Committee should have started raising the base interest rate last summer to combat inflation and must look to hike rates as soon as possible, said Henderson's Simon Ward.

The pound's weakness threatens to bolster inflation above 5%, supporting the need for higher interest rates, says MPC hawk Andrew Sentance.

Sterling has strengthened against the dollar as a report revealed UK consumer confidence increased in March from record lows, boosting the Bank of England's case for an interest rate hike.

Consumer Prices Index (CPI) annual inflation fell by a surprise 0.4% to 4% in March as the cost of food and drink lowered, but it is still double the Bank of England's target.

The Japanese government has raised the severity of the crisis at the Fukushima Dai-Ichi nuclear plant to 7, a rating only previously applied following the 1986 Chernobyl disaster.

The Bank of England today held interest rates at 0.5% as fears over a sluggish economic recovery outweighed inflation concerns.

The Bank of England is likely to maintain its current monetary stance and keep interest rates at their historic low today after a new report suggested the UK's economic recovery remains sluggish.

The first quarter rebound in the UK economy was weaker than expected, a survey suggests, adding to a growing consensus the Bank of England should again delay raising interest rates this week.

Experts from RLAM, Legg Mason and other top groups give us their views.