BoE Facing Brexit Balancing Task

The Bank of England will probably try on Thursday to avoid adding to speculation about a first interest rate hike in nearly a decade, even as it acknowledges the resilience of Britain’s economy since last year’s Brexit vote shock.

After Britain surprisingly outgrew the world’s other big rich economies last year, the BoE is expected to raise its 2017 growth forecast for the second time in three months, according to a Reuters poll of economists.

A fresh growth upgrade might encourage some investors to bet on a first rate hike since 2007 as well as invite further criticism of warnings before June’s referendum by Governor Mark Carney and his fellow rate-setters that a vote to leave the bloc would deliver a quick hit to the economy.

Reuters

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