ECONOMICS COMMENTARY
May 14, 2014
Bank of England still sees little need for rate hikes before spring 2015
There were no big surprises in the Bank of England's updated outlook for the UK economy. The Bank's latest quarterly Inflation Report suggested that interest rates will not rise until the spring of 2015. Bank Governor Mark Carney noted that the economy was 'moving closer' to a rate increase, suggesting a rise in the first quarter may be on the cards instead of the second quarter.
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