Bank of England governor Mark Carney has warned interest rates could rise in the event of a no-deal Brexit if a cliff-edge withdrawal sends the pound into freefall.
The Bank of England has left interest rates unchanged at 0.75%, but stressed it was poised to respond “in either direction” as it awaits the outcome of Brexit talks.
The Bank of England is set to hold interest rates at 0.75% on Thursday, but will be eyed closely for warnings over the economic risks of a no-deal Brexit.
Over £36 billion was wiped of London’s blue chip index on Thursday amid a painful global sell-off as US President Donald Trump hit out at “crazy” US interest rate hikes.
London’s blue chip share index has nosedived another 1.7% lower amid a painful global sell-off as US President Donald Trump hit out at “crazy” US interest rate hikes.
Britain’s economy is finally off the interest rate life-support brought in nearly 10 years ago after the financial crisis struck.
Turkish President Recep Tayyip Erdogan has criticised the central bank for sharply raising interest rates.
The Bank of England has kept interest rates on hold at 0.75% after August’s hike, but it confirmed further increases are likely to be needed to rein in inflation.
Bank of England policymakers are set to sit tight on interest rates on Thursday after last month’s milestone hike and following encouraging news on the economy.
Bank of England policymakers are set to sit tight on interest rates next week after last month’s milestone hike and amid a mixed performance across the economy.