The Bank of England has left the cost of borrowing unchanged in Britain – for now.
The main interest rate stays at 0.5 percent where it has been for more than seven years.
Governor Mark Carney has signaled
there will be more stimulus during the summer, but he has expressed
concern about what a big interest rate cut would do to the profits of UK
based banks.
He has also said he would not want to follow the example of the
European Central Bank and the Bank of Japan by cutting rates below zero.
Action is likely on August 4 when the Bank of England (BoE) is due to release its latest Inflation Report along with new growth forecasts.
Click here for the full article.
Source: euronews.
No comments:
Post a Comment