The BoE said it expected Britain's economy would grow by 1.4 per cent this year, down from the 1.8 per cent rate it predicted in February, which was a bit above what most economists thought likely at the time.
There was speculation earlier this year that the BoE would raise rates in May, after pushing the base rate up by 0.25 per cent in November - the first interest rate rise for more than a decade.
Mark Carney said the Bank of England still intends to deliver "modest" tightening after an unexpected economic slowdown derailed an interest-rate hike that investors had anticipated as soon as this month.
A similar market measure, short sterling interest rate futures FSSZ8 priced in the lowest chance of a rate rise this year since January, after one of the biggest reductions in expectations this year. If it views the first-quarter slowdown as a blip, and still believes growth will exceed its 1.5% speed limit for the year as a whole, it could decide to move now, rather than wait and allow medium-term inflationary pressures to build. The pound, which last month hit its highest level since the country voted to leave the European Union in June 2016, at $1.40, is faltering again.
However, the Bank described that as a "temporary soft patch" with "few implications" for the outlook for the economy.
The Bank of England has announced it is keeping its main interest rate at 0.5% amid evidence that the economy is slowing.
The preliminary estimate of GDP growth in the first quarter was 0.1%, 0.3 percentage points lower than expected in February.
Melania Trump's approval rating jumps in recent poll
Her new awareness campaign, called " Be Best ", is dedicated to children's well-being , cyberbullying and opioid abuse . First Lady Melania Trump took a major step toward solidifying her legacy during the Trump Administration on Monday.
'The prospect of a tight labour market, a bubbling crude and weaker sterling seems set to only stoke inflation higher in coming months, with little solace on offer from the Bank, ' he added.
For the bloc, investors are now chewing over the European Central Bank's (ECB) latest economic bulletin, although this release mostly reiterated concerns over inflation and global factors whilst remaining optimistic about growth.
For Patel, sterling at $1.35 "looks overcooked relative to the more tempered BOE policy rate expectations".
They repeated their calls for a rise to 0.75% to avoid more "abrupt" policy action further down the line.
"Given the recent weakness in consumer credit and the housing market, there was somewhat greater-than-usual uncertainty about the near-term momentum in consumer spending and the extent to which households would adjust their spending and saving to the past fall in their real incomes", the minutes said.
The inflation report also reduced inflation forecasts to 2.4% in Q2 - from 2.7% previously - and by a basis point in the following years.
It is a bold, biting commentary on modern American discourse and the racial disparity, gun violence and vanity that come with it. In the video, Glover is joined by a number of schoolchildren who jive in unison with the rapper.
The Red Sox saw 2016 AL Cy Young Award victor Rick Porcello take the mound with a 5-0 record and a 2.14 ERA entering the night. The Yankees - with yet another comeback win - have come all the way back to take over sole possession of first place .
This vulnerability only affects Windows 7, Windows Server 2008, and Windows Server 2008 R2, the bulletin said. Development on the feature will continue and it is too early to tell how useful it will be in the end.
The duo recently partnered with Compere Lapin sous chef Levi Raines to open Bywater American Bistro earlier this year . Freret Street cocktail lounge Cure won Outstanding Bar Program , which a year ago went to Arnaud's French 75.
Former Ohio State University football star Anthony Gonzalez won the Republican nomination to succeed Renacci in Ohio's U.S. Women made up about 20 percent of House candidates in OH , 18 percent in North Carolina, and 17 percent in Indiana .
It's a recipe that helped them win Game 5 in Nashville, a 6-2 victory on Saturday, and one they will need again Thursday. Since he purchased the Capitals, Leonsis has often taken critical fire for sending the wrong types of messages.
Zimmerman allegedly told Warren that he knows "how to handle people who fuck with me, I have been since February 2012". Investigators also discovered that Zimmerman knew where Warren and his family were staying, according to an affidavit.
Joe Donnelly - one of the GOP's top Senate targets - ended with a wealthy businessman and former Democrat the victor. That mission was to bring a much-needed Republican vote to the Senate, and you all have done me proud.
They could eventually consolidate into one powerful vent, as has happened in some previous Hawaii eruptions, Stovall said. On Sunday, a lava flow was moving away from Fissure No. 8 at significantly less than 1 miles per hour , Stovall said.
Severe thunderstorms possible Thursday afternoon
Wednesday, there is a 50 percent chance of showers and thunderstorms, with a high near 85, the weather service said. With the increased heat and humidity, afternoon shower and storm chances are possible both days.
Walmart to open 50 new stores in India in 4-5 yrs
The US company can not open physical stores in India, according to rules governing the multi-brand retail sector. Sachin Bansal will sell his 5.5 percent stake in Flipkart for an approximate value of Rs 7650 crore .
McCain urges Senate to reject Haspel's nomination
Wednesday morning, lawmakers asked Haspel if she would allow the agency to waterboard suspects again if the president ordered it. She appeared to find it shortly after the hearing when Democrat Joe Manchin said he would support her.
Bombers and gunmen attack Kabul police stations, kill 7
Since launching its spring offensive, the Taliban also has overrun at least four Afghan districts and threatened several others. Afghan security personnel inspect at the site of a suicide attack, in the center of Kabul, Afghanistan, on Wednesday.
USA wants Venezuela punished by 35-nation group
State Department has said not all political parties have agreed to the elections, limiting the ability of individuals to run. This story has not been edited by Firstpost staff and is generated by auto-feed.
Mike Braun Wins Indiana's Republican Senate Primary
With few major policy differences, the candidates ran bitter campaigns by arguing who's the strongest Trump supporter. The Vice President's brother, Greg Pence, won the GOP primary for Indiana's 6th Congressional District on Tuesday.
Google launches auto-complete sentences in Gmail
Google has said that, in the coming months, users should keep an eye on upcoming apps and devices which work with Google Photos . When you type a sentence in an email, lighter text to potentially complete the sentence will appear.