Latest Reuters poll has BOE leaving interest rates on hold until 2019

Author: Mike Paterson | Category: News

Same view as previous monthly poll in July 10 Aug

  • UK economy to expand 0.3% per quarter through to mid-2018, as previous
  • 20% chance of UK recession in coming year
  • median f/cast see wages +2.2% in 2017 and 2.5% 2018 vs the 3.0% BOE f/cast
  • inflation to average 2.7% in 2017, 2.6% in 2018
  • GDP to lag behind Eurozone

70 economists polled and the consensus is that inflation will peak at 2.9% this year similar to the BOE f/cast in their latest QIR

My long held view that the BOE will/can not hike rates anytime soon remains intact and with inflation expected to peak this year why should they?

Meanwhile GBPUSD a tad lower at 1.2975 as EURGBP nudges back up to 0.9045BOE

                              BOE in no rush to hike rates say economists