In a letter to the governor of the Bank of England, the Chancellor wrote:
Given the exceptional economic challenges continuing to face the UK economy, I agree with you that forward guidance can play a useful role in enhancing the effectiveness of monetary policy and thereby supporting the recovery.
The Bank of England Governor Mark Carney said he will not consider changing interest rates until unemployment reaches 7%.
The Governor's interest rates pledge favours spenders not savers, as figures for ITV News show.
Bank of England Governor Mark Carney is expected to unveil some form of guidance tomorrow which will pledge to keep rates low, for now.