The Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep interest rates on Thusday (19 September) at 0.75% as it warned of an uncertain path ahead for UK rates.
All nine policymakers voted to maintain rates at current levels, noting "the MPC judges at this meeting that the existing stance of monetary policy is appropriate" to achieve its 2% inflation target. The MPC will not meet until 7 November - after the UK is currently slated to leave the European Union on 31 October. It said that in the event of a no-deal Brexit, the odds of which have increased since Boris Johnson became Prime Minister, "the monetary policy response would not be automatic and could be in either direction", the BoE said. With sterling likely to fall, inflation to r...
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