File photo dated 08/08/12 of a general view of the Bank of England as the institution is expected hold interest rates at record lows once more, amid speculation it will have to change the threshold for considering a hike in the cost of borrowing within months. PRESS ASSOCIATION Photo. Issue date: Thursday January 9, 2014. Economists predict that the strength of the economic recovery will see Bank governor Mark Carney lower the unemployment target under his forward guidance policy as soon as February to ensure rates remain at rock bottom. Rates have been held at 0.5% for nearly five years now and the Bank pledged last year not to consider a rise until the unemployment rate falls to 7%, at the time predicting this would not be reached until 2016. But unemployment has been falling sharply - down to a lower-than-expected 7.4% in October - as the recovery gains traction, meaning the threshold could be hit far sooner. See PA story ECONOMY Rates. Photo credit should read: Yui Mok/PA Wire
%VIRTUAL-SkimlinksPromo%The Bank of England will hold interest rates at record lows once more today, amid speculation it will have to change the threshold for considering a hike in the cost of borrowing within months.
Economists predict that the strength of the economic recovery will see Bank governor Mark Carney lower the unemployment target under his forward guidance policy as soon as February to ensure rates remain at rock bottom.
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