By Marcus Leach

The Bank of England's Monetary Policy Committee (MPC) meet today (Thursday) to vote on interest rates, although it is unlikely it will change from the current rate of 0.5%.

If, as is widely expected, the rate remains the same it will be the 29th month running that it has been held at a record low. Mounting concerns about the strength of the economy, which is suffering again as a result of the squeeze in consumer spending and the start of the Government's austerity measures.

Such is the state of the economy in the UK, as well as problems in Europe, that many analysts now believe the interest rate will remain at its current rate for at least another year.

The question now is whether or not the bank will opt for another bout of quantitative easing, with the possibility that it could go past the £200 billion mark. Such a move would be aimed at driving more cash into businesses in the hope it will filter down through the rest of the economy.

Join us on
Follow @freshbusiness