Taking a glance at the low bank lending, the turning down house prices and the worsened public finances, it seems that all the anticipations made about the U. K enduring the recession and beginning to raise interest rates would fail.

While the U. S. Federal Reserve has announced yet another step towards monetary easing, the U. S. currency is said to be facing a broad selling pressure at present. The Dollar has reportedly seen a downslide against the currency to a six-month low.

Some of the analysts believe that as a result of the weakness being faced by the Dollar, Euro could witness uplift.

"We think it likely ... that there was active discussion of the case for extending QE, giving the minutes a dovish tinge. It is even possible that one or two members may have voted for an extension", said an analyst from the Barclays Capital.

The coalition Government is yet to put forth its harsh public-sector cutting program and the U. K. economy, which was said to be seeing deflation, rather than inflation has reported a growth of only 1.8% in the year to August.

Figures from the Bank of England have suggested that the mortgages, which had received sanction for the vending of homes, fell to 45,000 from 47,000. With the revenues failing to keep up with the forecasts, net borrowing is said to have increased to £15.3 billion.