Rolling coverage of the Bank of England’s eagerly awaited decision on interest rates
- Latest: Governor Mark Carney is holding a press conference now
- BREAKING: First hike in UK interest rates since July 2007
- The pound is falling….
- BoE: Brexit vote is hurting the economy
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.