UK’s central bank, the Bank of England has indicated that it is not looking to cut interest rates soon as the economy continues in its path of recovery.

Bank of England Governor Mark Carney has indicated that he is not planning to raise interest rates in soon even as the Britain's economic outlook improved over the previous three months. The central bank of the country is set to release fresh forecasts today as it looks to revise its growth outlook and predict lower unemployment and inflation than three months ago.

Experts have said that even as the economic indications are improving, the BoE is not set to increase its interest rates form the record low of 0.5 percent until unemployment falls to 7 percent. Carney launched the "forward guidance" policy in August in the country where he affirmed that the central bank will not cut its interest rate until the unemployment level falls to a certain level.

Mark Carney, the governor of the Bank of England has assured investors and borrowers in the country that the interest rates would remain low in the country until the economy shows strong signs of recovery. The central bank under his leadership has indicated that the bowing costs will be maintained at lower levels until economy returns to high growth trajectory. Carney is aiming to convince investors and businesses that the interest rates will not be increased as the recovery remains volatile.