Bank of England unlikely to produce any fireworks with multiple reports on 5 Novermber as clutch of surveys highlight uncertain outlook for UK businessesFresh signs the UK economy is losing steam amid a global slowdown will force the Bank of England to preserve interest rates at their record low this week. Policymakers,however, will likely warn households to prepare for higher borrowing costs next year.
Only one of the nine members of the Bank’s monetary policy committee (MPC), and Ian McCafferty,is expected to vote for rates to be increase from 0.5%, where they have been since the depths of the financial crisis more than six years ago.
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Source: theguardian.com