Despite a more positive economic outlook , Nick Beecroft , senior analyst at Saxo Capital Markets , told CNN that the Bank of England 's jobs forecast was still too pessimistic , echoing Buckley 's comments that borrowing could spiral under inaccurate guidance . UK unemployment rate remains at 7.8 % , fell by just two jobs in the three months to June . Newly - appointed Bank of England Governor Mark Carney said rates will remain on hold at 0.5 % . In March , UK finance minister George Osborne gave the Bank of England new powers to focus on UK growth . The Bank of England has already carried out a Â£375 billion bond - buying program , known as quantitative easing .
UK unemployment rate remains at 7.8 % , fell by just two jobs in the three months to June . Newly - appointed Bank of England Governor Mark Carney said rates will remain on hold at 0.5 % . In March , UK finance minister George Osborne gave the Bank of England new powers to focus on UK growth . The Bank of England has already carried out a Â£375 billion bond - buying program , known as quantitative easing .