Bank managers are going to avoid a new rate hike because they have a gradual and limited & # 39; approach approach

This week is expected to be held this week

Bank managers are going to avoid a new rate hike because they have a gradual and limited & # 39; approach approach

  • The bank only increased the base rate for the second time in a decade last month
  • Analysts say it is unlikely to repeat the move at the Thursday meeting
  • Data are expected to show that the economy grew by 0.4% in the three months to July

Jamie Nimmo, Financial Mail on Sunday

This week is expected to be held this week

This week is expected to be held this week

Borrowers have to breathe a sigh of relief this week with the Bank of England, which keeps interest rates on hold.

The Bank, led by Governor Mark Carney, increased the base rate only for the second time in a decade last month, bringing it from 0.5 percent to 0.75 percent.

Analysts say it is unlikely that they will repeat the move at the Thursday Monetary Policy Committee meeting, but the minutes will give an indication of possible rate increases for the near future, which are likely to be affected by the Brexit developments in the coming years. months.

Analysts at investment bank RBC said: "Our expectation is that the central message from the bank about the & # 39; gradual and limited rise in interest rates in the coming years. & # 39;

From tomorrow's data, the economy is expected to grow 0.4 percent in the three months to July, which would be the same increase as in the previous three months.

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