By Martin Robinson PUBLISHED: 06:27 EST, 18 July 2012 | UPDATED: 08:21 EST, 18 July 2012 The Bank of England may cut interest rates to below its current record low of 0.5% in the coming months to try to revive Britain's depressed economy. Members of the Monetary Policy Committee (MPC) opted to pump more emergency cash into the economy earlier this month, but not before discussing in more detail the possibility of a first cut in rates since March 2009, it was revealed today. Detailed minutes show while they ultimately opted to increase its quantitative easing (QE) programme to £375 billion, its members agreed to consider cutting interest rates below 0.5%.
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July minutes from the Bank's Monetary Policy Committee reveal members might alter interest rates
Survey data continued to weaken in the month before the meeting, the @placeholder said, while there were increasing signs that the threat of the eurozone crisis was hitting UK growth.