LONDON (AP) — The Bank of England is expected to keep interest rates on hold Thursday following a run of soft economic data that has cemented the British economy in the slow lane of the world’s big economies.
Financial markets think it’s a near certainty that the bank will keep its main interest rate unchanged at 0.5 percent.
Just a few weeks ago, the markets thought the bank would raise it by a quarter point to its highest level since early 2009. However, that all changed after figures showed the economy barely grew in the first three months of the year and inflation falling by more than anticipated.
Uncertainty related to Britain’s exit from the European Union is blamed by many for the slowdown.