The Bank of England unanimously voted to leave interest rates unchanged this month but said it could move to cut rates again, as soon as November, despite the Brexit bounce back.
The MPC’s nine rate setters were unanimous in their decision to keep rates on hold at 0.25pc.
It also voted 9-0 to keep the bank’s bond-buying programme target at £435bn and said it would continue with its plan to buy up £10bn worth of corporate bonds.
The central bank sees economic growth at 0.3pc in the three months to September-end, up from a previous forecast of 0.1pc. It also warned it could cut its benchmark lending rate again this year.
“The Committee’s view of the contours of the economic outlook following the EU referendum had not changed,” the minutes said.
The central bank said if its November forecasts are “broadly consistent with August’s” then a majority of MPC members expected to “support a further cut in the bank rate” over the course of the year.
Source: The Times/OTCEER
