BoE 'unlikely' to hike rates as recovery falters

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The Bank of England is likely to maintain its current monetary stance and keep interest rates at their historic low today after a new report suggested the UK's economic recovery remains sluggish.

In its latest prediction, the National Institute of Economic and Social Research (NIESR) said the recovery is faltering despite the economy growing by an estimated 0.7% in the first quarter of this year. In its latest prediction, it said Britain had probably only achieved "weak" average quarterly growth of 0.1% over the last six months. Robust growth since January had done little more than recover output that was lost in the final weeks of 2010 when heavy snow disrupted the economy, it said. The thinktank said the fragile situation made it almost certain the Bank's Monetary Policy ...

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