BoE expected to hold interest rates at 0.5% this week


The Bank of England is expected to leave interest rates on hold this week, marking the first time in over half a century that a government has enjoyed unchanged borrowing costs for its entire term. Paul Hollingsworth of Capital Economics said: 'Thursday's Bank of England interest rate announcement looks set to be another uneventful one.' A poll of economists by Reuters points to the early months of 2016 as the most likely timing for the first hike, giving the next government some time to settle in before mortgage holders are hit with higher costs.


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