The Bank of England is expected to hold interest rates steady and make no changes to its asset purchasing program when it gathers Thursday for its September Monetary Policy Committee meeting.The central bank is set to keep interest rates at a record low of 0.25 percent and maintain its quantitative easing (QE) program at a rate of £435 billion ($573 billion), despite inflation remaining at persistently high levels.The fall in sterling following the U.K.’s vote to leave the European Union has pushed up the cost of imports, making goods more expensive for British consumers. This has resulted in higher inflation, which hit 2.9 percent in August, well above the Bank of England’s target of 2 percent.
Source: Bank of England’s September policy meeting: What to expect – CNBC
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Craig Erlam
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