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BoE Leaves Rates on Hold

BoE Leaves Rates on HoldBoE Leaves Rates on Hold

The Bank of England kept interest rates at a record low again on Thursday and cut its forecasts for growth and wages as Brexit weighs on the economy. Governor Mark Carney said, however, it would not take much of a pick-up to justify a rate hike. The Bank also reiterated it might raise borrowing costs a bit more than investors expect over the next three years, possibly within a year, Reuters reported. There is a desire among major central banks to move away from post-financial crisis ultra-loose monetary policy, but many are finding it hard to do so without killing off growth.

 

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