The new Bank of England governor Mark Carney has indicated that the central bank could keep its interest rates low until 2016.

Experts have said that the low interest rates could put savers and pensioners in a disadvantageous positions they would earn lesser interest on their savings. On the other hand, it would benefit borrowers and investors as they have to incur fewer expenses on interest payments. It would affect the people approaching retirement and potentially buying an annuity or anyone running a pension scheme, according to experts.

The central bank under his leadership has indicated that the bowing costs will be maintained at lower levels until economy returns to high growth trajectory. Carney is aiming to convince investors and businesses that the interest rates will not be increased as the recovery remains volatile. He indicated that the central bank will not increase interest rates until some targets are met, suggesting that the liberal monetary policy will remain intact in the country for some time.

Carney may back continuing British QE and hold rates until unemployment falls below a determined level. UK unemployment has been between 7.7 and 7.9 per cent for the previous nine months and this means that the central bank will continue to keep the interest rates low. George Osborne has asked the central bank to review the Bank's remit to maintain inflation at 2 per cent and consider if a larger criteria will allow the monetary policy committee to consider more measures while setting interest rates.