UK interest rates have remained on hold at the historic low of 0.5% following the latest monthly meeting of the Bank of England Monetary Policy Committee (MPC).
There is also no change to the £200bn programme of quantitative easing.
This latest rate decision came on the same day that a poll of leading economists by the BBC found they expect interest rates to remain on hold until 2012.
The poll of 32 economists, who are often used to advise the Treasury, found 26 saying interest rates would stay at 0.5% for the remainder of 2011.
Three of the economists forecast no interest rate change until 2013.
Looking at expectations of a rate rise in 2012, half of the economists think we will see interest rates move to at least 1.5% by the end of next year.
With the economic recovery weakening in the UK and around the world, we agree with these economists that interest rates will continue to remain very low.
If core inflation remains manageable, we would also expect to see the Bank of England extend their £200bn asset purchase programme later this year or early next year, in an attempt to kick start economic growth.
