Brexit Unsureness Could Lead a Rate Cut
Publish Date : 2019/09/27 - 09:50

The Bank of England may need to cut interest rates should Brexit uncertainty persist, one of its policymakers has said.

Even if the UK avoids a no-deal Brexit, rates may still need to be cut, Michael Saunders said.

Interest rates have been on hold at 0.75% since August 2018, when they were raised from 0.5%.

Last week, the Bank said Brexit uncertainty meant the UK economy was performing below its potential.

The pound dropped against the dollar after his comments were reported, trading down about 0.4% at $1.2277, before paring losses.

Source: BBC

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