Bank of England holds rate at 0.75% as it awaits Brexit clarity

Pedro Gonçalves
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Bank of England holds rate at 0.75% as it awaits Brexit clarity

The Bank of England said Britain faced its weakest economic growth in 10 years in 2019, blaming mounting Brexit uncertainty and the global slowdown, but it retreated from the initial plan of rising rates as it awaits for Brexit clarity with less than seven weeks to go. "The fog of Brexit is causing short term volatility in the economic data, and more fundamentally, it is creating a series of tensions in the economy, tensions for business," BoE Governor Mark Carney said in a speech after th...

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