The Bank of England Base Rate is currently 0.75%.

The MPC expects that any future increases in Base Rate are likely to be at a gradual pace and to a limited extent.

Due to inflation looking set to resume its descent towards 2%, and evidence of significant wage growth failing to materialise, anything more than one 25 bps rate rise in 2019 looks unlikely.

The Bank of England base rate is not expected to reach 2% until 2022 at the earliest.

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