The Bank of England appears to have entered a holding pattern as it is expected to keep the Bank interest rate at 0.5%, as it has done since March this year.

The next interest rate decision will be made by the Bank's Monetary Policy Committee on 9 July with most analysts predicting no change.

As the prospect of economic growth becomes more likely in the coming months is there now scope to start raising rates to avoid any inflation? Or should rates be cut again to levels similar to those in the US?

Ahead of the next MPC meeting Director of Finance Online brings you the views of a group of North Eastern business leaders who get together on a monthly basis to form a shadow MPC and give their views as to what the MPC should do based on their business experiences.

These are the views from the business front-line:

• Watch the June 2009 debate here
  

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