Super Thursday: Bank of England Raises Growth Forecast

By Jonathan Davies

The Bank of England has raised its growth forecast for the UK economy in 2015, predicting that it will grow by 2.8%.

In May, the Bank forecast growth of 2.5%. Forecasts for 2016 and 2017 remain unchanged.

Elsewhere on 'Super Thursday', the Bank of England announced its decision to keep interest rates on hold at 0.5% for another month. The minutes from the Bank's Monetary Policy Committee (MPC) meeting showed that one member voted in favour of raising interest rates.