U.K. Prime Minister David Cameron expressed his worry about the high levels of inflation after the rate had remained above the bank's upper limit of 3% for nine straight months and said private sector will lead recovery.

Cameron mentioned that he will give full support to Governor of the BoE, Mervyn King, to set interest rate to control inflation.

This week, the BoE will announce January's rate decision and APF quantity, where expectations refer to keeping both unchanged.