ECONOMICS COMMENTARY
Aug 07, 2014
Bank of England maintains ultra-loose policy stance
There was no change in interest rates at the Bank of England at its August meeting, but we expect the minutes to show that opinion is moving closer towards raising rates. It's all about when wage growth starts to pick up: if pay starts to rise in coming months, the first rate hike looks likely in November. Otherwise, any tightening of policy can wait until next year.
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