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Ed Stansfield, chief property economist at Capital Economics, explained that the "underlying fundamentals" of the UK economy are currently lacking in strength, which is why an extended period of low rates could be beneficial.
"I think the Bank of England, on balance, might keep interest rates at half a per cent until at least the end of the year," said Mr Stansfield.
He suggested the impact of the fiscal squeeze and the number of public sector job losses coming up could play a major role in the Bank's decision.
Recent research by Lloyds TSB found that 32 per cent of Brits believe the Monetary Policy Committee will raise the base rate over the next few months.
Mr Stansfield responded to these figures by saying a lot of people are in for a "pleasant surprise".
Posted by Chris Weaver
