But despite the rising inflation numbers, new discussions are appearing in the British media of another round of quantitative easing by the BOE to stimulate the UK economy, similar to their US counterparts at the Fed. This bout of inflation may have been caused by loose monetary policy by the Bank of England ( BOE ) in their fight against the economic downturn. Given that an increase in interest rates could stymie the tepid 1.2% growth in the UK economy, the BOE will most likely not raise interest rates anytime soon.