Bank of England set to hold rates at record low as US poised for rise

Bank of England policymakers are expected to keep interest rates at record lows, but the decision comes as the US Federal Reserve is poised to make its first increase in nearly a decade.

The Bank signalled in its quarterly inflation report last month that an interest rate rise in the UK may still not come for another year, while monetary policy in the US and Europe is moving in completely opposite directions.