Polls see BoE raising rates 0.25% next week

The Bank of England is set to raise rates by a quarter point next week according to two recent City polls.

The polls, carried out by Reuters and Bloomberg, surveyed 58 analysts and 31 economists respectively. In both, respondents were unequivocal in seeing Britain's central bank raising the cost of borrowing to 5%, a return to the pre-9/11 level.

The results resonate with the leanings of the rate-setting monetary policy committee. Two of the nine members vote for a rise last month and the

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