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Bank Of England MPC committee likely to sit tight

Today sees the start of the two-day MPC committee meeting which will decide whether UK base rates change and whether the UK government needs to pump any more money into the UK economy. Amid signs that UK base rates are likely to remain unchanged at 0.5% there is also a feeling that the UK government and the Bank of England will put on hold any more investment into the quantitative easing program.

Amid signs that the UK economy may well be improving there is a feeling that the £50 billion extra added to the funds just last month may not be required and will ultimately be held in reserve in case the economy relapses. This comes at a time of hope for the UK economy, buoyed by the fact that the worldwide economy led by Japan, France and Germany appears to leaving this recessionary period, something which will ultimately drag the likes of the UK forward.

There is some debate as to whether or not the ongoing improvement can be sustained through 2010, with a number of economists sceptical about the strength and depth of the recovery. However, as we approach the next general election it is highly unlikely that the UK government will do whatever it needs to do to maintain a forward-looking and improving scenario for the UK economy.

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