Oil’s Fall, Slow Wage Growth to Weigh on Bank of England Rate Vote

The Bank of England looks likely to signal another delay in raising interest rates on Thursday thanks to a renewed oil price slump, sputtering wage growth and the approach of an unsettling vote on Britain’s European Union membership.

Amid signs of a weakening in Britain’s economic recovery and doubts about how hard China’s slowdown will hit the world economy, some economists are pushing their forecasts for a first BoE rate hike to as far back as November.

It has already been almost seven years since the Bank cut borrowing costs to 0.5 percent as the financial crisis tipped Britain into a deep recession.

Reuters

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