The UK's National Institute of Economic and Social Research, a private 'think tank'.

Bank of England likely to keep interest rates on hold until August 2020

  • NIESR citing a slower global economy, ongoing uncertainty about Brexit
  • NIESR had previously been forecasting a rate hike for August 2019 - this was the prior forecast issued in February
  • Other forecasts:
  • economic growth for 2019: 1.4% (was 1.5% in Feb.)
  • growth to 1.6% in 2020
  • forecast based on the assumption of a "soft" Brexit
  • growth would be slower if UK ends up in a customs union with the EU, or if UK exits the EU without a transition deal

(via Reuters)