Bank of England poised for hike despite weak data

Bank of England
Bank of England
Daniel Hinge

The Bank of England (BoE) is widely expected to announce a hike in interest rates on August 2, undeterred by inflation and wage growth coming in lower than expected.

Most observers think the monetary policy committee (MPC) will vote to raise interest rates from 0.5% to 0.75%, the first such move since November. The rise would be the first time the policy rate has been above half-a-per cent since February 2009, when rates were slashed following the financial crisis.

Bloomberg data puts the

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