Tags: APFN | EU | Britain | Economy

Bank of England Keeps Key Interest Rate on Hold at 0.75%

Thursday, 01 August 2019 07:38 AM EDT

LONDON (AP) — The Bank of England has kept its main interest rate on hold at 0.75% and warned that mounting fears of a no-deal Brexit at the end of October is increasingly weighing on the country's short-term economic growth.

The decision, announced Thursday, was unanimous among the nine-member policymaking panel.

Minutes accompanying the decision showed that rate-setters think growth has slowed this year to a rate below potential, "reflecting both the impact of intensifying Brexit-related uncertainties on business investment and weaker global growth on net trade."

Rate-setters said there was more evidence that Brexit uncertainty has become "more entrenched."

The bank's forecasts are conditioned on the assumption that Britain will leave the EU with a deal, smoothing its exit.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The Bank of England has kept its main interest rate on hold at 0.75% and warned that mounting fears of a no-deal Brexit at the end of October is increasingly weighing on the country's short-term economic growth.The decision, announced Thursday, was unanimous among the...
APFN,EU,Britain,Economy
119
2019-38-01
Thursday, 01 August 2019 07:38 AM
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