Possible cut to UK interest rates next week.
Analysts are expecting lower interest rates to come as early as next week, a new low of 0.25% can now be expected in an attempt to boost a flagging economy post “Brexit”.
In the immediate wake of the referendum result last week, Governor of The Bank of England, Mark Carney has hinted at further stimulus measures this summer, after sharply negative economic data over the last few days action could be taken as early as at the next rate-setting meeting on 14 July.
Construction activity in June is said to have fallen at its fastest pace for seven years, this has been attributed to the nervousness surrounding the potential for a “Brexit” win at the referendum.
The YouGov/CEBR Consumer Confidence Index has just fallen to its lowest level since May 2013, and half of all companies admit to feeling pessimistic about the UK economy, twice as many as before the EU vote.
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