- Friday, April 26, 2024
By: Radhakrishna N S
The Bank of England (BoE) on Thursday (1) trimmed its growth forecasts as Brexit approaches and froze interest rates but warned it could alter monetary policy “in either direction” after Britain leaves the European Union. The central bank’s nine-strong Monetary Policy Committee (MPC) voted unanimously at a regular policy meeting to keep its key rate at 0.75 per cent and maintain its quantitative easing stimulus, it announced in a statement. The BoE predicted the economy will expand by 1.3 per cent this year in a downgrade of prior guidance of 1.4 per cent, blaming slowing global economic growth. It now…
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