No rate rise forecast before 2019
ECONOMISTS forecast the Bank of England will hold UK base rates at their record low of 0.25 per cent until at least 2019, in spite of rising inflation resulting from sterling’s post-Brexit vote weakness, a poll by Reuters reveals.
HSBC’s Liz Martins said: “In normal times, the current data might point to a rate rise in the UK but times are not normal. With Brexit-related uncertainty, slower growth and weaker consumption in prospect, we think rates stay on hold.”
Annual UK consumer prices index inflation rose to 1.6 per cent in December, from 1.2 per cent in November. Economists forecast it will jump above the two per cent target this year.
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