Keeping its money-pumping program suspended, the Bank of England has decided to maintain the interest rate at 0.5%. Following this, the GDP surged by 0.3% in the last quarter of 2009.

The prices of the houses have reported a fall of 1.5% in February, depicting a fast recovery from the crisis. Pound was found to be trading at $1.5088.

However, a sudden rise of 3.5% in the consumer inflation has added to the concerns of the central bank.

U. K. and European economist at IHS Global Insight said that there is very less scope for the BOE, raising the rates for in the upcoming months.

He further said that if he does change the rates then "it would most likely be to revive the quantitative-easing program, which was placed on hold in February after completing 200 billion pounds ($301.3 billion) of asset purchases".

Other economists also predict very tiny changes in the staff projections, in the near future. The bank's central prediction for growth in 2010 and 2011 were of 0.8% and 1.2%, respectively.

There are possibilities of a lot of questions being shot on Trichet regarding Greece's debt woes.

The ECB has presented a statement intending to agree upon the country's latest austerity measures.