Bank of England to reveal key interest rate decision, discussions behind it and quarterly economic forecasts on same day for first time
Britain’s mortgage borrowers will be warned this week to brace themselves for higher interest rates on what City of London traders have dubbed “Super Thursday”. At least two, perhaps three, of the nine members of the Bank of England’s interest rate-setting committee are expected to cast their votes for a rate rise.
Confirmed hawks Martin Weale and Ian McCafferty, who voted for rate rises throughout the second half of 2014 before changing their minds as inflation plunged to zero earlier this year, have signalled they could soon be ready to see borrowing costs rise.
Related: Why Mark Carney shouldn’t rush to play the rate-rise card
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