UK interest rates raised for first time in a decade – business live

Rolling coverage of the Bank of England’s eagerly awaited decision on interest rates


Q: There are forecasts that the City could lost 75,000 jobs though Brexit – so could the banking sector force the Bank of England to rethink its plans if they trigger their own Brexit contingency plans?

Carney sounds relaxed about this possibility.

Q: How bad would Brexit have to get before the Bank revises its forecasts downwards?

Mark Carney says that UK businesses are, in general, expecting a transition deal to be agreed between Britain and Brussels.

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