The Bank of England’s monetary policy committee has decided to keep rates at historic lows of 0.25 per cent ANDY RAIN/EPASterling dipped to a nine-month low against the euro in late afternoon trading in London today as households were warned to expect a rise in interest rates within a year if the economy continues to perform as expected and despite a gloomy outlook from the Bank of England on rising inflation and sluggish wage growth. The Bank of England’s rate-setting monetary policy committee (MPC) voted to keep interest rates at their record low of 0.25 per cent for now, with only two members — Ian McCafferty and Michael Saunders — out of eight pushing for a rise in rates. The pound was 0.8 per cent lower at €1.106 and 0.6 per cent down against the dollar at $1.314. The announcement is likely to come as…

Source: The Times August 03, 2017 11:15 UTC