Economists not expecting Bank of England rates rise until 2019
A BBC snap poll of economists found most do not think the Bank's Monetary Policy Committee will make any change to the rate until Brexit negotiations have finished
Cash - image credit: Fotolia
The Bank of England is not expected to raise interest rates until 2019, according to a BBC survey of leading economists.
The current rate of 0.25% is the lowest in history and has been in place since August last year, when it was cut from a previous low of 0.5%.
A BBC snap poll of economists found most do not think the Bank's Monetary Policy Committee will make any change to the rate until negotiations have finished on the UK's withdrawal from the EU.
That is despite inflation now running at 2.6%, well above the Bank's target level of 2%.
There are voices inside the Bank, including chief economist Andy Haldane, who have made the case for increasing rate - although governor Mark Carney said in a speech this June that "now is not yet the time" for a rise.
Opinion is divided on exactly when an increase will come - economists at Barclays, Santander, Morgan Stanley and Oxford Economists all told the BBC they did not expect any action until 2019 at the latest.
Others predict an increase as early as May 2018, while George Buckley of Japanese bank Nomura thinks the MPC will make a move as early as this November.
Environmental campaigners welcomed plans for £340m in capital funding for the National Investment Bank, while urging ministers to ensure it helps develop Scotland’s low carbon...
UK and EU agree that sufficient progress had been made on exit payments, citizens' rights and the future of the Irish border to allow the negotiations forward in the New Year
Exclusive interview with Paul Wheelhouse, Minister for Business, Innovation and Energy
Oil industry welcomed news that Philip Hammond will allow the tax history of oil and gas fields to be transferred after a sale, allowing buyers to claim greater relief when it comes to...