Cautious BoE warns on “Fog of Brexit”

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Sterling dipped on Thursday afternoon before later recovering after the Bank of England warned about the “fog of Brexit” and its unfavourable impacts on the economy.

In a widely expected move, the Bank of England left interest rates unchanged at 0.75% in February. However, the endless uncertainty over Brexit and slowing global growth forced the central bank to cut its 2019 economic growth forecast. UK growth is now expected to expand 1.2% this year from 1.7% projected in November. With the BoE’s dovish slant also dampening expectations over further interest rate hikes anytime soon,… Read More

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