MPC keeps interest rates at historic low of 0.5% despite steep drop in sterling linked to EU referendum The Bank of England has kept the UK base interest rate at its historic low of 0.5% despite a steep drop in the value of sterling linked to the EU referendum, which policymakers said was likely to exert upward pressure on inflation.
The BoE said disappointing business investment and the weaker outlook for global trade would offset the impact of a cheaper pound and retain inflation in check in the short term before a rise to its 2% target within the next two years. Continue reading...
Source: theguardian.com