The Monetary Policy Committee (MPC) is being encouraged to keep the base interest rate at a low level, following the publication of the country's latest inflation statistics.
According to the British Chambers of Commerce chief economist David Kern, the economy could take a turn for the worse if interest rates were to go up too soon.
He stated: "Given the continued weakness of the economy, and the tough deficit-reduction measures expected in next week's Budget, it is important for the MPC to maintain low interest rates for a prolonged period."
UK contractors and other firms might also be keen to note that the expert suggests that business investment might be supported if rates are kept low for the right amount of time.
It was revealed earlier this week (June 15th) by the Office for National Statistics that last month witnessed a CPI annual inflation rate of 3.4 per cent.
Posted by Susie Cho.