Bank of England set to offer clues on possible May rate hike

LONDON

LONDON (AP) — The Bank of England is expected to keep its main interest rate unchanged but could signal a possible hike in May.

The minutes to Thursday’s rate decision will be pored over to see how many of the nine-member Monetary Policy Committee voted to raise the main interest rate by a quarter-point from 0.5 percent.

At its February meeting, the panel had hinted it could raise rates in May as inflation was above target and wages were rising.

This week’s economic data have shown inflation at 2.7 percent and above the 2 percent target, and wages on the up. Also, hopes of a “smooth” British exit from the European Union have risen after the two sides agreed on the outlines of a transition deal after Brexit day next March.

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