Bank of England keeps rates on hold amid Brexit uncertainty

Published February 08, 2018

The Bank of England has kept its key interest rate on hold as Britain's economy faces uncertainties related to its exit from the European Union.

The bank said Thursday that its rate-setting committee had unanimously voted to keep the key rate at 0.5 percent, three months after raising it for the first time in a decade to get inflation down.

The Brexit talks are set to officially recommence soon, but there's a lack of clarity over what Britain's future relationship with the EU will be after the exit in March 2019.

Many in the markets think that some sort of agreement over the immediate post-Brexit period will be thrashed out. That could allow the central bank to raise its main interest rate again in coming months to bring down inflation.

URL

https://www.foxnews.com/world/bank-of-england-keeps-rates-on-hold-amid-brexit-uncertainty