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Interest rates unlikely to change, economists predict

The Bank of England is expected to leave interest rates unchanged today.

Economists predict the Bank will still be looking to weigh up the impact of recent measures taken to kickstart the economy, including slashing rates to 0.5 per cent and boosting the economy with £75 billion of new money in March.

Recent surveys of the construction and manufacturing sectors seem to suggest the speed of the economic slump in the UK has slowed.

JP Morgan economist Allan Monks said he expected the monetary policy committee keep rates at their current level while it finished off its programme of quantitative easing.

Quantitative easing is effectively printing money by purchasing certain assets and the Bank has permission from chancellor Alistair Darling to create up to £150 billion if necessary.