MPC

The British Chambers of Commerce (BCC) has warned the government against "prematurely" raising interest rates as its latest quarterly economic survey suggested challenges remain for the UK's recovery.

A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.

Britain's recovery has become entrenched and the Bank of England should start to raise interest rates in the coming months to reflect the stronger economy, according to one of its most dovish policymakers.

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.

Monetary Policy Committee minutes reveal unwillingness to raise interest rates after unemployment falls

The Bank of England has held interest rates for the 50th month in a row and opted not to increase the size of its QE programme at its May meeting.

Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.

The Bank of England's Monetary Policy Committee has resisted calls for further quantitative easing after leaving its programme of stimulus unchanged, with interest rates also kept on hold.

Each of the nine members of the Bank of England's Monetary Policy Committee (MPC) voted to hold interest rates at the historic low of 0.5% this month, minutes from their latest meeting show.