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Interest rates left at 0.75% amid signs of rebound for UK economy


January, 30 2020
watermark Economic news

Today, the Bank of England held a meeting, at which left rates unchanged at 0.75%. Representatives of the Central Bank noted that there is no need for additional incentive measures, as the British economy began to show signs of accelerating growth. At the same time, two out of nine Bank of England officials, Michael Saunders and Jonathan Haskell, again voted to lower rates.


The regulator also said that it was ready for changes in monetary policy after the departure of Central Bank head Mark Carney in March. His place will be taken by Andrew Bailey, head of the Office of Financial Regulation and Supervision. 


If the British economy continues to show a visible acceleration of growth, it may require «some modest tightening» of monetary policy, said the representatives of the Bank of England. 


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.