The certainty the Governor of the BoE was trying to give borrowers by tying an increase in interest rates to unemployment has gone.
The Bank of England Governor has stepped in to try to reassure borrowers that interest rates will stay at very low levels for "some time”.
The former Co-op bank chairman faces five investigations. But by the time the City watchdog's inquiry reports the row may be all forgotten.
The Governor of the Bank of England has told ITV News the economic recovery remains too fragile to raise rates yet.
Mark Carney's comments come as the Bank today abandoned its flagship forward guidance policy linking interest rates to unemployment after just six months - but insisted they must remain low for longer to support the economy:
The Bank of England has raised its 2014 growth forecast for the UK economy from 2.8 per cent to 3.4 per cent.
The Bank expects fourth-quarter 2013 growth to be revised up from 0.7% to 0.9% and said first-quarter growth will remain "robust" at around 0.8%.
The Bank of England today said there was still "scope" in the economy to keep interest rates at record lows under new guidance on the cost of borrowing.
The Bank of England have kept interest rates on hold at 0.5%, marking five continuous years at the historic low.
Rates were slashed to 0.5% in March 2009 amid the depths of the economic downturn and have stayed there ever since, as monetary policy remains on "emergency setting".
39% of mortgage holders say a rise in interest rates would require them to cut back drastically on other areas of spending to keep up with their mortgage repayments, according to an ITV News Index poll carried out by ComRes.
40% disagreed with the statement and 21% said they didn't know.
Bank of England Governor Mark Carney has pledged to leave interest rates unchanged until the level of unemployment falls to 7%.
33% of mortgage holders do not have a good idea of how much the monthly payments on their mortgage would increase if interest rates went up, according to an ITV News Index poll carried out by ComRes.
45% said they did have a good idea of how an increase in the rate from 0.5% to 1% would affect their mortgage rate, and 22% said they didn't know.
Interest rates are expected to remain unchanged today after a Bank of England meeting, but its governor Mark Carney has said he will consider raising the rates if the level of unemployment falls to 7%.
A little over one quarter of homeowners say they would face serious financial difficulty if interest rates rose, according to an ITV News index carried out by Comres.
50% disagreed with the statement, while 24% said they didn't know.
One third (35%) of those polled said that if there was an increase in interest rates, it would have little effect on their finances. 49% disagreed with the statement, while 16% didn't know..
ComRes interviewed 2,043 British adults as part of the poll.
Economics Editor Richard Edgar is in Edinburgh for the Bank of England Governor's speech on how a newly-independent Scotland could still retain sterling:
Key message from Carney: "a durable, successful currency union requires some ceding of national sovereignty."
Tough decisions on giving up sovereignty to be made both by Scots ... and rest of UK.
The Bank of England Governor has warned that a newly-independent Scotland would be forced to hand over some national sovereignty if it wanted to keep the pound.
But Mark Carney appeared to step back from getting involved in the political row oer independence, saying: "Decisions that cede sovereignty and limit autonomy are rightly choices for elected governments and involve considerations beyond mere economics.
"For those considerations, others are better placed to comment."