Brexit Prompts Pushing Back of Bank of England Rate Bets: ChartBy
Investors have pushed back the timing of a U.K. rate increase until as late as 2019, in part because of uncertainty stemming from the country’s June 23 referendum on European Union membership. Economists, however, see a 25 basis point lift in the first quarter of 2017 and that discrepancy, as well as the cloudy outlook, will probably continue to obscure the policy path until after the vote. Officials meeting on Thursday will leave their key rate at a record low 0.5 percent, according to economists in a Bloomberg survey.
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