The Bank of England is set to keep rates unchanged
THE Bank of England is expected to keep interest rates unchanged today after lacklustre economic growth and easing inflation has dampened speculation over a hike.
Economists believe the Bank’s Monetary Policy Committee (MPC) will keep rates at 0.25 per cent, despite three out of eight policymakers calling for an increase to 0.5 per cent last month and amid conflicting public pronouncements in recent weeks.
The decision comes a year after the Bank slashed rates to the new all-time low in the aftermath of the Brexit vote.
Prior to June’s inflation reading of 2.6 per cent, there had been growing clamour for a rate rise as a Brexit-fuelled increase in the cost of living ramps up pressure on hard-pressed households.
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