The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.75% amid ongoing uncertainty over UK. The MPC indicated that future interest rates could move in either direction, depending on how the Brexit leaves the EU. Capital Economics expects interest rates to rise if the prime minister’s withdrawal bill is passed by parliament, while a no-deal UK could see an immediate cut to 0.25%.
The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.75% amid ongoing uncertainty over Brexit. The MPC indicated that future interest rates could move in either direction, depending on how the UK leaves the EU. Capital Economics expects interest rates to rise if the prime minister’s withdrawal bill is passed by parliament, while a no-deal Brexit could see an immediate cut to 0.25%.