The Organization for Economic and Cooperation and Development (OECD) said the British economy will expand 0.5% next year and 1.8% the year after.

The OECD sees that the growth will increase in 2012 on the back of the rise in exports and recovery in consumer spending. However, it still expects higher levels of joblessness next year along with high possibility of seeing further expansion in stimulus by the BoE.

It is more likely that policy makers would expand non-standard measures by 125 billion pounds to raise its sum to 400 billion pounds in early 2012 to spur the weak growth pace to overcome the slowdown in global growth and turbulences from the euro area, according to the OECD.