S&P sees a UK rate hike not before mid-2019

The US ratings agency, Standard and Poors published its latest note on Tuesday, reviewing the UK economy and BOE’s rate hike prospects.

Key Points:

Decline in real wages to weigh on household spending

GDP to slow to 1.4% this year on Brexit uncertainty

Sees BOE ultra-accommodative stance continuing in medium term

Sees a UK rate hike not before mid-2019