59 of 62 say they expect the rate to remain unchanged at 0.5%
A Reuters poll is saying that the Bank of England is to leave their bank rate of 0.5% on May 12. Of the 62 economists surveyed, 59 said they would remain unchanged. That result is a reversal of the April 18 poll where most polled said they expected a hike to 0.75% (69 of 76 expected a hike at that time).
The poll expects a 25 basis point rise to 0.75% in August.
The turnaround was triggered by dovish comments from Bank of England Gov. Mark Carney. A slew of downbeat data also contributed to the reversal.
The expectations in the market or for a 10% chance now.
In addition to the hike in August, the economists expect another hike in the 2Q of 2019
