Bank base rate cut possible?Make Text Bigger
Amid what looks likely to be slowing growth figures for April, the Bank of England is predicted in the inflation report due this week to produce its most detailed analysis on the risks of Brexit and the continued uncertainty that this is causing in the economy.
The economy looks like slowing quickly before the June referendum and the Sunday Times reported that the Bank of England have been asking banks to prepare for a possible rate cut.
This has apparently been confirmed by an unnamed CEO telling the newspaper that after a call to the Bank of England office he was asked to investigate if his bank’s balance sheet could handle a cut in interest rates.
Mark Carney, the Governor of the Bank of England, has previously said to the Treasury Select Committee that the potential of leaving the EU would be considered as the greatest domestic economic threat posed to financial stability in the short and medium term.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.