How long can interest rates be held at 0.5%?

The MPC announced Thursday its decision to hold interest rates at 0.5%, marking the thirteenth consecutive month at the record low rate. The decision came as no surprise to many economists who believe that the UK’s economic recovery still remains somewhat fragile and that any interest rate rise may hinder this recovery. Growth figures have continued to exceed estimates but the Bank believes economic growth is still not a certainty, and hence feels that they have no choice but to hold rates constant. On the other hand, this has not come as welcomed news to dismayed savers, who argue that they were not the ones who caused economic collapse yet they are the ones now paying the price, struggling with reduced incomes and watching, in front of them, their savings shrink significantly in real terms. Therefore, many people have begun asking and wanting to know how long interest rates are going to be held at such low rates. What can be done for responsible savers who are losing out? Is the economy strong enough yet for increased rates?