Bank of England keeps interest at record low of 0.25%

Interest rates may need to rise before late 2019

The Bank of England said on Thursday that it may need to raise interest rates before the late 2019 date markets had been expecting, as it saw inflation rising and the economy growing steadily over the next few years.
 

With only a month until a national election, the BoE said the short-term squeeze on households from inflation since June's Brexit vote would be more severe than it predicted in February, with price growth peaking at over 2.8 percent late this year.

Britain's economy shrugged off expectations of a recession after last year's referendum and chalked up one of the fastest growth