The Bank of England has kept interest rates on hold amid continued uncertainty over Brexit.
All nine members of the Bank's Monetary Policy Committee voted to keep rates at 0.75%, where they have been since August last year. In the meeting's minutes, the MPC said the economic outlook would continue to depend"significantly on the nature and timing of EU withdrawal".In setting interest rates the Bank is aiming to keep inflation within 1% either side of its target of 2%.
The Bank said that predictions contained in its February inflation report were conditional on a"smooth adjustment to the average of a range of possible outcomes for the UK's eventual trading relationship with the EU". "The appropriate path of monetary policy will depend on the balance of these effects on demand, supply and the exchange rate. The monetary policy response to Brexit, whatever form it takes, will not be automatic and could be in either direction."
BOE not concerned then, nor the boss of Barclays Bank who said today he is not concerned by no deal
The economy will crash very soon
Increase to 4%🤔
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