The UK inflation rate dropped to 1.9% in January, marking the first time it has fallen below the Bank of England's target of 2% since November 2009.
Britain must see a business recovery before interest rates can begin to rise, according to Mark Carney, the Governor of the Bank of England.
The Bank of England has today said it will not hike rates "for some time to come" - with the base rate potentially at 2% by 2017 - as governor Mark Carney begins to alter his forward guidance policy.
Mutual's chief economist tells recent borrowers to prepare
The Bank of England has again moved to temper expectations of an early rate rise, despite the UK unemployment rate dropping to close to the crucial 7% mark this morning.
The Bank of England's Monetary Policy Committee (MPC) should hold off on raising interest rates even though its stated threshold for doing so - a fall in the unemployment rate to 7% - is in sight, according to a report.
The Bank of England (BoE) could lower the unemployment target it has said must be reached before it raises interest rates, according to some experts, as jobless figures fall faster than expected.
Monetary Policy Committee minutes reveal unwillingness to raise interest rates after unemployment falls
The National Institute of Economic and Social Research says unemployment rates could fall to 7% by 2014
The Bank of England will intervene in banks and building societies' mortgage lending if they appear to be stoking a house price bubble, its governor has warned.