The rate-setting committee raised rates to 0.75 per cent in August but has now held monetary policy for a third consecutive meeting.

The committee said the Brexit uncertainties had “intensified considerably” since its last meeting at the beginning of November and that those uncertainties were weighing on UK financial markets.

Coupled with a slowing global economy, it said the outlook for growth had also suffered and business investment had fallen.

The MPC also unanimously voted to maintain its stock of UK government bond purchases at £435bn and its stock of corporate bonds at £10bn.

City A.M.’s shadow monetary policy committee unanimously voted to hold interest rates, with many of the panel of economists and experts citing Brexit uncertainty.

The shadow committee noted that recent accelerated wage growth, which hit a ten-year high earlier this month, pointed towards potential future hikes.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.