Bank of England on Hold as Policymakers Prepare Post-Brexit Bazooka

by Szu Ping Chan

In a week full of surprises, the Bank of England delivered another on Thursday as policymakers opted to keep interest rates on hold at 0.5pc.

Markets, which backed the wrong horse in the referendum, were mistaken again.

Officials signalled that more stimulus was on the way, but wanted to wait and see before pulling the trigger on a fresh round of easing.

The pound spiked, Britain’s benchmark share index fell and market expectations for rate cuts were scaled back.

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