The interest rates in UK have reported to be at a very low record of 0.5% for the consecutive 15th month. The Bank of England has also taken a decision not to invest any more money in the UK economy under the policy of Quantitative Easing (QE).

The interest rates have been 0.5% since the March of 2009 and the remaining with that figure till now.

At the same time, a poll of 61 economists has advised that the central bank should not declare a raise on interest rates till next year.

The chief economist of Lloyds Banking Group Corporate Markets, Mr. Trevor Williams has said that the decision on the interest rate was not shocking at all. He has also added that the position of the economy is still very weak. The inflation rate in April was at its highest rate in last 17 months.

According to the Consumer Prices Index (CPI) the inflation rate has touched 3.7% which is higher than that of the expected target of 2% from the bank and was also the highest rate of inflation since November of 2008.