interest rate

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 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.

The British Chambers of Commerce (BCC) has predicted interest rates will hit 1% by the end of this year despite the lacklustre economic recovery.

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.

A PYRRHIC VICTORY FOR THE ECB

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.

The Bank of England's Monetary Policy Committee (MPC) has remained split three ways on interest rates, minutes of its latest meeting show.

The Bank of England is right to hold interest rates at record lows of 0.5% as governor Mervyn King takes a long-term view, according to George Osborne.

The Bank of England has again held rates at 0.5% amid signs the economic recovery is failing to gather momentum.

Mervyn King's argument for keeping interest rates at a record low 0.5% has received a boost from the latest construction data showing economic growth is not yet strong enough.