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The majority of 59 economists polled by Reuters said the Bank of England (BoE) would not hike its interest rates until early 2017. 45% of respondents expect the central bank by the end of this year, while 75% of respondents expect the BoE to raise its interest rates by the end of next year.
Once the central bank starts to tighten its interest rates, the interest rate is expected to be 1.25% by the end of next year and 1.75% by the end of 2018.
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