Bank of England votes 9-0 to keep interest rates on hold

Prospect of UK rate rise recedes further as Bank cuts forecasts for economic growth, wages and inflation

The prospect of a UK interest rate rise has receded further after the Bank of England cut its forecasts for growth, wages and inflation. However, the governor, Mark Carney, warned borrowers against getting too comfortable with rock-bottom rates.

Carney quashed recent market speculation that a global economic slowdown could prompt a rate cut. But at the same time, the Bank revealed that its policymakers had voted unanimously to hold borrowing costs this month and they gave little indication that there would be an early increase.

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