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The central bank's nine-member Monetary Policy Committee voted unanimously to leave rates on hold at 0.75%.
The Bank of England left its base rate of interest at 0.75% on Thursday, as markets had been expecting.
‘As catastrophic as the financial crisis’: Here’s what Mark Carney warned politicians will happen to the UK economy after a no deal ...
On Thursday, Bank of England Governor Mark Carney privately warned the government of the potentially dire economic consequences of a no deal Brexit. Here are the most important points.
The Bank of England will shortly announce the latest decisions taken by its rate setting Monetary Policy Committee, with interest rates universally expected to remain on hold.
"I’m delighted that the Governor has agreed to stay in his role for a further seven months to support a smooth exit from the European Union and provide vital stability for our economy," Chancellor Philip Hammond said in a statement.
According to the Evening Standard, officials from the Treasury have canvassed Carney about possibly staying at the helm of the central bank until 2020.
Bankers from the EU are leaving the City in an “exodus” which is already underway, Iain McCafferty, a senior official at the Bank of England told Britain’s LBC in an interview on Tuesday. The number of German, French and other European bankers coming to work in the City has "fallen quite sharply" since the 2016 referendum, McCafferty said.
"The possibility of a no deal at the moment is uncomfortably high. It is highly undesirable, parties should do all things to avoid it," Carney said during an interview on BBC Radio 4's Today Programme.
Britain's central bank increased rates from 0.5% to 0.75%, taking the UK's base rate of interest to its highest level since March 2009.
If financial market expectations are met, Britain's central bank should raise rates from 0.5% to 0.75%, taking the UK's base rate of interest to its highest level since March 2009. But it might not be a good idea