The Bank of England's monetary policy committee ( MPC ) voted seven to two in favour of holding interest rates this month , believing that a slump at later in the year will quickly recover to allow the bank to raise interest rates to 0.75% the next two years . Economists believe the next rate rise could come in three months' time. The bank forecasts unemployment to fall further, inflation to fall to its 2% target over 2019 , and growth of 0.75% in 2019 and the next two years . The MPC 's decision led to a fall in sterling of more than 0.5% against the dollar and 0.75% against the Euro .
The Bank of England's monetary policy committee ( MPC ) voted seven to two in favour of holding interest rates this month , believing that a slump at later in the year will quickly recover to allow the bank to raise interest rates to 0.75% the next two years . The bank forecasts unemployment to fall further, inflation to fall to its 2% target over 2019 , and growth of 0.75% in 2019 and the next two years . The MPC 's decision led to a fall in sterling of more than 0.5% against the dollar and 0.75% against the Euro .