At yesterday’s meeting and press conference, where the key interest rate was (as widely expected) left unchanged at a record low 0.25 per cent, the committee trimmed its forecasts for economic growth blaming Brexit. Governor Carney noted ‘uncertainty about market access post-Brexit is starting to affect some business decisions and it has consequences for investment’. You don’t say! The team also warned that future rate hikes might be much faster than currently implied by the yield curve.
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