According to British Chambers of Commerce (BCC), the Bank of England should try to maintain the interest rates at 0.5%. The group also said that the bank should also ensure more influx of money in order to sustain a stable economic condition in the United Kingdom.

This suggestion came from the leading business group, when it predicted that the nation’s GDP growth for the year 2010 would be 1.7%.

According to BCC Chief Economist, David Kern, if the deficit-cutting plan that was proposed during the emergency budget session is implemented successfully, then the UK’s dwindling economic condition will get a boosting and will certainly recover.

Kern also said that declining growth in the UK is a more serious matter than rise in prices.

He also suggested that the Bank's monetary policy committee (MPC) should stick to the quantitative easing (QE) and raising interest rates to sustain the country’s economic growth.

The Bank of England Deputy Governor, Charles Bean also thinks that QE programmes have saved the financial markets in the UK and US.

The BCC mentioned that in addition to the Government’s support, it is imperative for the Bank of England to have a strong growth approach to make the UK economy ‘leaner and fitter’.