Coventry and Warwickshire business leaders believe that interest rates will remain at 0.5 per cent in a bid to help aid economic recovery. 

Speaking ahead of the Bank of England's Monetary Policy Committee interest rate decision this Thursday, Coventry and Warwickshire Chamber of Commerce chief executive Louise Bennett said keeping interest rates low is vital to the economy - despite some pressures for an upward move.

"Businesses need the rate to stay low as we are still a long way from the economy recovering to the levels we all hope it will," she said. 

"I was interested to read this week the shadow MPC is proposing to double the Bank rate to one per cent, but I believe keeping the rate low is vital to help businesses stimulate grow. 

"Access to finance still needs to be improved for businesses before a rise can be talked about as even very low interest rates are not producing enough upturn in the economy.

"So with this in mind I expect the Bank to leave rates on hold for now and for quite a few months to come."