A weak UK economy could prompt the Bank of England (BoE) to cut interest rates, regardless of whether the UK leaves the EU without a deal on this year, according to BoE Monetary Policy Committee member Michael Saunders. The UK is one of the only major economies to leave interest rates unchanged 31 October. The US Federal Reserve has cut interest rates twice, the European Central Bank reintroduced a stimulus programme with interest rate cuts, and China's central bank cut bank lending rates.
A weak UK economy could prompt the Bank of England (BoE) to cut interest rates, regardless of whether the UK leaves the EU without a deal on 31 October, according to BoE Monetary Policy Committee member Michael Saunders. The UK is one of the only major economies to leave interest rates unchanged this year. The US Federal Reserve has cut interest rates twice, the European Central Bank reintroduced a stimulus programme with interest rate cuts, and China's central bank cut bank lending rates.