The majority of 50 economists polled by Reuters said the Bank of England (BoE) would not hike its interest rates until early 2017. 40% of respondents expect the central bank by the end of this year, down from 45% in the previous poll on March 08. Weak global economic growth and low inflation are main factors for the delay of an interest rate hike.
Once the central bank starts to tighten its interest rates, the interest rate is expected to be 1.75% by the end of 2018.
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