BoE to keep rates steady after market U-turn
May 07, 2018 00:00:00
LONDON, May 6 (Reuters): The Bank of England looks set to keep interest rates on ice this week, capping a sharp swing in the outlook for the British central bank, which might now struggle to convince investors that it will raise borrowing costs at all this year.
Unexpectedly weak economic data and cautious remarks from Governor Mark Carney have dashed what looked like near-certain expectations of a rate increase until a few weeks ago.
Since he joined the BoE in 2013, Carney has signaled several times that rates were likely to rise, only for economic data to go the wrong way.