MPC rate hike not likely pre-Q3

MARKET NEWS

LONDON -- The Bank of England’s monetary policy committee (MPC) is unlikely to raise UK interest rates until at least the third quarter of this year, analysts told FX Week.

The bank left the UK base lending rate on hold at 4% last week following its regular two-day meeting last Thursday (April 4), a decision that had been widely expected in the markets and provoked little FX reaction.

"I think we will see rates rise again in August," said Jeremy Hawkins, chief economist at Bank of America in L