MPC

UK interest rates could need to be cut further to support growth and return inflation to target, the Bank of England's chief economist has said.

The UK's economic recovery could be undermined if interest rates are kept at record lows for too long, Bank of England policymaker Kristin Forbes has warned.

Analysts have pushed back their interest rate rise expectations after only one member of the Bank of England's Monetary Policy Committee (MPC) voted for an increase this month.

Hawkish members of the Bank of England's Monetary Policy Committee (MPC) keen to begin edging up interest rates were cowed by the recent turmoil in Greece, its latest meeting minutes reveal.

Interest rates in the UK could rise as early as August in response to a tightening labour market, according to Monetary Policy Committee member Martin Weale.

The Bank of England has said it is prepared to cut rates further and expand its quantitative easing (QE) programme should the current downward slide in inflation worsen.

Members of the Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep interest rates on hold in January, the committee's latest minutes reveal, knocking expectations of a rise this year.

The Bank of England's Monetary Policy Committee remained split 7-2 against raising interest rates this month but took a gloomier view of the country's economic prospects.

Two members of the Bank of England's Monetary Policy Committee voted for a 25bps rate hike this month, latest minutes show - the first call for hikes in over three years.

The Bank of England won't be pressured into hiking the base rate quickly because inflation is likely to remain relatively low, according to economist David Miles.