BoE meeting: Are Investment Week's rate watchers predicting a rate hike this week?

91% chance of a rate rise

While markets are pricing in a 91% chance of an interest rate rise in August when the Bank of England's Monetary Policy Committee announces its decision on Thursday, Investment Week's rate watchers are not convinced.

Investment Week asked nine industry commentators on whether the BoE should raise interest rates at the MPC meeting on 2 August. Weaker-than-anticipated inflation data last month coupled with heightened uncertainty surrounding the Brexit negotiations have meant Investment Week's nine experts have decided rates should be maintained at 0.5% with a 5-4 split. The UK Consumer Price Index (CPI) remained at 2.4% in June, its joint-lowest level in 14 months, missing analysts' expectations of a rise to 2.6%, while the chances of a "no deal" in the negotiations with the European Union have rise...