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Bank of England to wait out soft data as it eyes next rate rise

In sharp contrast to widespread expectations just a few weeks ago that it would raise rates, the BoE said its nine rate-setters voted 7-2 to keep them at 0.5 per cent

Reuters  |  LONDON 

The Bank of England held interest rates on Thursday and said weak growth during a snowy start to 2018 was likely to be only temporary, but it wanted to see a pick-up in the economy in the next few months before raising borrowing costs. In sharp contrast to widespread expectations just a few weeks ago that it would raise rates, the BoE said its nine rate-setters voted 7-2 to keep them at 0.5 per cent. That was in line with forecasts in a Reuters poll of economists. Investors responded to the announcement by slightly pushing back their expectations of when the BoE was likely to ...

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First Published: Thu, May 10 2018. 19:02 IST
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