Belfast Telegraph

Interest rates predicted to stay at 0.25% after increase speculation

By Staff Reporter

The Bank of England is expected to keep interest rates unchanged later today after lacklustre economic growth and easing inflation has dampened speculation over a hike.

Economists believe the Bank's monetary policy committee will keep rates at 0.25%, despite three out of eight policymakers calling for an increase to 0.5% last month.

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 of 2.6%, there had been a clamour for a rise as a Brexit-fuelled increase in the cost of living ramped up pressure on hard-pressed households.

Belfast Telegraph