Bank of England to sit tight over interest rates: analysts

LONDON (AFP) — Bank of England (BoE) policymakers are widely forecast to leave British interest rates at 4.50 percent for the eighth month in a row, maintaining a wait-and-see stance over the economy.

All 36 forecasters polled by AFP's financial newswire AFX News expect the Monetary Policy Committee (MPC) to leave unchanged the "repo" rate -- the rate of interest at which the BoE lends to commercial banks.

The MPC, which normally numbers nine members, will be reduced to eight this month after senior member Richard Lambert left his post on March 23 to become new head of the Confederation of British Industry -- the country's biggest employers body.

Following Lambert's departure, BoE governor Mervyn King will have a casting vote in the event of an even 4-4 split.

"In practice, though, he is unlikely to have to use it," Investec economist Philip Shaw said. ...