Bank of England Poised to Slash Interest Rates to Shore Up Economy

The Bank of England will announce its latest interest rate decision on 12pm this Thursday

by Szu Ping Chan and Peter Spence

The Bank of England is poised to slash interest rates to close to zero this week as fears mount over a Brexit-induced recession.

Economists believe the Monetary Policy Committee (MPC) will cut rates to a new low of just 0.25pc on Thursday, while markets have priced in a 75pc chance of more easing.

Bank of America Merrill Lynch believes policymakers will reduce rates to as low as 0.1pc.

A cut would be the first change in interest rates since March 2009, when the base rate was slashed to 0.5pc.

Continue Reading at…