BCC

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 will raise interest rates from their historically low levels in May, the British Chambers of Commerce (BCC) predicts.

UK economic growth slowed towards the end of 2010, according to figures from the British Chamber of Commerce (BCC), sparking fears a recovery is faltering.

The Monetary Policy Committee (MPC) must inject a further £50bn into Britain's fragile economy to stave off a double-dip recession, the British Chamber of Commerce warns.

The Bank of England will keep interest rates on hold until at least May 2011 as the Government's recent spending cuts weigh on the economic recovery, the British Chambers of Commerce believes.