Bank of England responds to Brexit turmoil
The Bank of England has rejected a move to cut interest rates from 0.5% to 0.25% in an attempt to stimulate the economy following the UK’s decision to leave the European Union.
The Monetary Policy Committee had been widely expected to make a change but voted 8-1 in favour of retaining the rate, which was last altered in March 2009.
Bank of England governor Mark Carney had previously indicated the MPC would do whatever was necessary in order to support the economy in the wake of the Brexit vote.
Quantative easing was also retain... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
