Tags: APFN | EU | Britain | Economy

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

Thursday, 01 August 2019 07:38 AM

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.

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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
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2019-38-01
Thursday, 01 August 2019 07:38 AM
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