All on board the smooth Brexit transition

[clearedforlanding]

Bank of England keeps rates on hold; cuts growth forecast

As expected the Bank of England has kept interest rates unchanged at 0.75%.

The Bank has cuts its growth forecast to 1.3% from 1.5%.

However, those forecasts are based on a smooth transition to a post-Brexit situation.

[CryingSheep]

Bank of England keeps rates on hold; cuts growth forecast

As expected the Bank of England has kept interest rates unchanged at 0.75%.

The Bank has cuts its growth forecast to 1.3% from 1.5%.

However, those forecasts are based on a smooth transition to a post-Brexit situation.

Some good news there... the BOE realised that the markets are not stupid and that a raise on the base rate won't automatically lead to the appreciation of the pound and solve the problem! Instead would just put more pressure on the families with mortgages, that are already pressured for the inflation record values!