BoE unlikely to hike rates until after Brexit deal finalised

MPC minutes released later today

Forecasters at the National Institute of Economic and Social Research (NIESR) have predicted the Bank of England is unlikely to raise interest rates until Brexit negotiations are over.

The think-tank said the economy has fared well since the Brexit vote but there are concerns that reduced trade with remaining members of the European Union will impact economic growth in the future. Simon Kirby, head of macroeconomic modeling and forecasting at NIESR, told Bloomberg: "We assume that interest rates remain unchanged until we exit the European Union. "If the chance of a transitional deal does begin to materialize, it might well be that the Bank of England brings forward the point at which it raises interest rates, but at the moment, that does not appear to be on the card...