Thursday, 30 June 2016

Mark Carney Says Interest Rate Cut Is Likely

Mark Carney, governor of the Bank of England, tells bankers and business leaders that the result of the EU referendum is clear, but its implications for the UK economy are not. ‘The economic outlook has deteriorated and some monetary policy easing will likely be required over the summer,’ he adds, suggesting that a cut to the benchmark interest rate, currently at a record low of 0.5%, is on the cards.