The BoE's nine rate-setters probably
voted unanimously at their September meeting to keep Bank Rate at 0.25
percent, the lowest level in the BoE's 322-year history, according to a
Reuters poll of economists.
The Bank will probably also signal
that a further cut is likely the next time it meets, in November, as it
to tries to help the economy cope with the referendum decision in June
to leave the European Union.
When the BoE stepped in with a
stimulus push on Aug. 4, it had little concrete data on the impact of
the Brexit vote. But since then signs have grown that the economy, while
still heading for a sharp slowdown, weathered the initial shock.
Mark Carney, who has been accused by Brexit supporters of being
alarmist with his warnings about the consequences of a "Leave" vote,
said earlier this month that growth might slow to around 0.3 percent in
the third quarter.
That would be slightly less severe than the
0.1 percent crawl that the BoE had expected but half the pace of growth
in the April-June period.
"The UK is far from out of the woods
yet," Daniel Vernazza, an economist with UniCredit bank, said. "In
particular, surveys suggest businesses are deferring investment."