Bank of England to Slash Interest Rates by the End of Next Week, Economists Predict

Mark Carney, the Bank of England Governor, has hinted that fresh stimulus could be imminent

by Peter Spence, Economics Correspondent

Analysts believe the Bank of England will slash interest rates within weeks after data showed the UK economy ground to a near-halt at the end of the second quarter, even before the UK’s vote to leave the European Union.

Economists expect monetary policymakers to cut interest rates to 0.25pc by the end of next week in an attempt to help shore up confidence. Mark Carney, the Bank’s Governor, and Chancellor George Osborne have both hinted that fresh stimulus could be on the way.

It came as Markit’s latest read on the health of the economy suggested growth had weakened to its slowest pace since early 2013 – just 0.2pc in the second quarter of the year.

Continue Reading at…