UK interest rates set to remain on hold for coalition's entire term

While economists are divided over when the Bank of England will end this current spell of steady interest rates, no one expects rates to match their 1940-1951 run

The Bank of England is expected to leave interest rates on hold at 0.5% this week, marking the first time in more than half a century that a government has enjoyed unchanged borrowing costs for its entire term.

Interest rates were slashed to a record low of 0.5% in 2009 in a bid to stem the fallout from the global financial crisis. They have remained there ever since, with ultra-loose monetary policy the backdrop throughout the coalition's time in office beginning in 2010.