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A slowing economy and prolonged Brexit uncertainty is seen keeping the Bank of England (BOE) from raising the interest rate until August 2020, the National Institute of Economic and Social Research (NIESR) said on Thursday, according to Reuters.  

While the think tank has pushed back by a year its previous forecast of a BOE rate hike made in February this year, a recent Reuters poll showed most economists now expect the central bank to raise borrowing costs early next year.

So far, the British central bank has raised rates twice to 0.75 percent from the record low of 0.25 percent