The Bank of England (BOE) held interest rates steady on Thursday, with the U.K.’s economic outlook highly uncertain less than 100 days before the country leaves the European Union.
As widely expected the BOE’s nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to leave interest rates unchanged at 0.75 percent.
The central bank warned that Brexit uncertainty had “intensified considerably” over the last month, adding falling oil prices were likely to drag inflation below its 2 percent target soon.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.