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Bank of England to decide on whether to raise rates

May 9, 2018

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Media captionWhat exactly is the Bank of England interest rate?

The Bank of England’s Monetary Policy Committee is set to decide later whether to raise rates from 0.5%.

Economists believe the Bank will not increase the cost of borrowing after a slowdown in UK economic growth in the first quarter of the year.

Last month, Bank governor Mark Carney said “mixed” economic data could delay any increase.

Bank of England to decide on whether to raise ratesBank of England to decide on whether to raise rates

Rates rose for the first time in more than 10 years in November, from 0.25%.

The Bank is also expected to downgrade its economic growth forecasts.

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