Interest rate cut expected this Thursday
August 1, 2016
This week the Bank of England (BoE) is expected to cut interest rates for the first time in seven years, a cut was expected just over two weeks ago which failed to materialize. The monetary policy committee decided it was too quick to take such action so soon after the vote for Brexit, however this Thursday it meets again, and a rate cut is almost a certainty according to many experts.
Economists have said falling business and consumer confidence may prompt the BoE to cut interest rates in August to a record low of 0.25%, it was reported last Friday that consumer morale plummeted after the Brexit vote.
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