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Interest rates expected to be held
Last time the Monetary Policy Committee (MPC) met (6 February), it voted to lower the base rate from 4.75% to 4.5%.
Anyone hoping that the upcoming meeting might bring another fall in interest rates is likely to be disappointed.
“We expect a largely uneventful affair at the March MPC meeting. The path ahead will be one of careful calibration,” said Sanjay Raja, senior economist at Deutsche Bank. “Uncertainty remains elevated. Growth has seemingly turned a corner… Price momentum, at least on a headline basis, points to more upward pressure – at least in the near term.
“We expect Bank Rate to remain unchanged at 4.5%.”
Good Wednesday morning. Welcome to our interest rates blog. We will be bringing you live updates on the Bank of England’s key decision tomorrow, starting with preview analysis today. Stick with us.
