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Theresa May’s Terrible Election Makes Rate Hike Less Likely: Chart

Investors have reined in expectations for the next Bank of England interest-rate increase after Prime Minister Theresa May failed to win a majority in last week’s snap election. The odds of a hike before 2019 have slipped to about 33 percent from 52 percent on June 8, based on data compiled by Bloomberg. The central bank “won’t be in any rush to move on interest rates,” Bloomberg Intelligence’s Dan Hanson wrote in a report, arguing that there’s now a broader range of Brexit outcomes to consider.

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