The Bank of England defied market expectations of an interest rate cut by holding rates at 0.5% in a surprise move on Thursday. Most market participants had priced in a 0.25% rate cut at today’s meeting as the Bank of England takes measures to cushion the UK economy from the anticipated negative impact from Brexit. However, an August move is now a certainty as indicated in the Bank’s accompanying statement from today’s announcement. According to the statement, “most members of [..]
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