A BoE rate hike would follow the pattern set by the U.S. Federal Reserve and to an extent by the European Central Bank, which has said it will start to scale back its stimulus plan. Economists are much more skeptical, and most do not expect rates to rise at all next year. The BoE said in September that most of its nine policymakers expected to back a rate rise "over the coming months". A Reuters poll suggested a 6-3 vote in favor of a rate rise. The British people, 8 million of whom have never known a rate rise in their adult lives, will be his main audience.

Source: New York Times November 02, 2017 00:00 UTC