Economics
Bank of England Tipped to Raise Rates in Slowing Economy
- Economists predict growth will ease to 1.4% in 2018 from 1.8%
- Central bank said last week that rates will still need to rise
Blanchflower Says BOE Is Looking Complacent Again
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Slower-than-expected U.K. growth this year won’t stop the Bank of England from at least one interest-rate increase, according to a Bloomberg survey of economists.
Output will stutter to 1.4 percent from 1.8 percent in 2017, the median forecast showed, slightly lower than the 1.5 percent previously forecast. Nearly 60 percent of economists see a hike at the August meeting. The poll was conducted in the week after the BOE’s May 10 policy announcement, when it left its key rate at 0.5 percent.