Bank of England set to hold interest rates

The Bank of England's Monetary Policy Committee is expected to hold their course and keep interest rates at 0.5% today.

Economists predict the Bank will continue to keep its money printing quantitative easing programme on hold, as it looks to its Funding for Lending Scheme and a recent fall in the price of sterling to boost the economy.

Bank of England Governor Mervyn King
Bank of England Governor Mervyn King Credit: PA Wire

The Bank will meet after gross domestic product figures showed the economy slipped back into the red in the final three months of last year, with fears last month's snowstorms will have hit output at the start of this year.

Read more: UK triple-dip recession looms

Advertisement

New BoE Governor faces MPs

The next Bank of England Governor, Mark Carney, has appeared before the Treasury Committee.