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Bank of England under pressure to boost economy

Bank of England under pressure to boost economy

Category: Economy

Updated: 02/08/2012
First Published: 02/08/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

All eyes will be on the outcome of the Bank of England policymakers' meeting at noon today to see whether calls to rescue the UK 's ailing economy have been acknowledged.

The Bank of England's Monetary Policy Committee (MPC) has been adamant over recent weeks that interest rates will remain at the record low of 0.50% and that no further money will be injected into the economy.

A sharp decline in growth confirming the UK has sunk further into recession, however, has placed renewed pressure on the Government to use drastic measures to aliviate the country's economic situation.

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