Bank of England

The Bank of England has again held rates at 0.5% amid signs the economic recovery is failing to gather momentum.

A number of economists predict the Monetary Policy Committee will raise interest rates in August this year, to curb rising inflation.

The Monetary Policy Committee (MPC) was again divided six-three against a rate rise earlier this month, minutes from the April meeting reveal.

This week: Douglas Roberts, senior international economist at Standard Life Investments

The Japanese government has raised the severity of the crisis at the Fukushima Dai-Ichi nuclear plant to 7, a rating only previously applied following the 1986 Chernobyl disaster.

The Bank of England today held interest rates at 0.5% as fears over a sluggish economic recovery outweighed inflation concerns.

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.

Ministers are to outline plans for a universal state pension which they say will help people currently working prepare for a "different sort of world" in retirement.

Andrew Sentance has predicted inflation could rise above 5% this year and repeated his calls for a gradual increase in interest rates and cutting off of monetary stimulus.

The pound reached a 14-month high this morning, after data revealed UK inflation soared to 4.4% in February.