Individuals looking to make investments or savings have been told not to expect any rises in interest rates in the immediate future.
The Bank of England will decide on the base rate later this week (June 10th), having decided to keep it at 0.5 per cent a month ago.
Michael Baxter, editor of Investment and Business News, explained how he thinks the interest rates will be decided in the short term.
He said: "I doubt there would be any forces emerging in the Bank that would manifest itself in the form of pushing for a rate of interest for a while.
"For now the majority of movers within the Bank of England will stick with low interest rates for quite a long time yet - certainly until the end of this year."
One factor that will be taken into account by the Bank of England's Monetary Policy Committee will be that gross domestic product increased by 0.3 per cent in the first quarter of 2010.
Meanwhile, the output of the production industries rose by 1.2 per cent, up from a rise of 0.4 per cent in the final quarter of 2009.
Investors told to expect no change in interest rates
Investors told to expect no change in interest rates
Tue, 08 Jun 2010
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