Economics
Bank of England Set to Raise Rates: What to Watch
- Policy makers expected to raise rate to 0.75% on Thursday
- Questions remain on strength of economy, Brexit uncertainty
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The Bank of England is on track to raise interest rates for only the second time since the financial crisis, even though Brexit threatens to prove a rough ride for the U.K. economy.
The majority of economists surveyed by Bloomberg expect a quarter-point increase to 0.75 percent on Thursday, the highest since 2009, and investors are pricing it in with near certainty. Yet few anticipate a unanimous decision. A 7-2 split is seen as the mostly likely outcome, with Jon Cunliffe and Dave Ramsden expected to vote to keep rates where they are.