UK bank interest rates to remain frozen in time for half a decade?

There are no doubts in most people?s minds that the next UK government will be forced into some quite drastic spending cuts. If this theory is correct the thought of a large cut in spending coupled with increasing interest rates could really restrain the current delicate recovery.
Sources say that the UK Bank of England could be forced to keep interest rates at below 2% for the medium term of 5 years or more. Some experts also believe it could be 12months before we see a rise in the Bank of England base rate from its currently low level of 0.5%, with the immediate possibility of more money being pumped into the UK banking system to aid growth.
If this were to be correct it would inevitably lead to the revaluation of some assets many property and equities, after time this alone could assist the return to glory. This would be great news for both the UK residential property prices and the commercial property sector, the pay off could be a negative effect on the value of sterling.