Pound on Track for Its Best Week Since 2009 After Bank of England Leaves Interest Rates Unchanged

by Tara Cunningham, Business Reporter

[…] Bank of England leaves interest rates unchanged

The Bank of England has surprised financial markets by keeping interest rates on hold in July, as officials were split over unleashing immediate stimulus to boost the economy following the Brexit vote.

In their first meeting since the referendum result, policymakers voted by 8-1 to keep interest rates on hold at a record low of 0.5pc.

Mark Carney, the Governor of the Bank of England, said last month that he believed some stimulus would be required over the summer to support growth while steering inflation back towards the Bank’s 2pc target.

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