BOE’s ‘Gradual’ Path

While a rate increase in May is forecast by many, it could be 2019 before the next one

Economists are convinced of a Bank of England interest-rate hike in May, though it could be a while before the next one. About three-quarters of analysts in the latest Bloomberg survey see a rate increase next month -- up from 54 percent previously -- but the median forecast for a subsequent hike is not until February 2019. The central bank, which raised for the first time in a decade last year, has long-stressed that it would follow a “limited and gradual” path away from record-low levels.

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