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Bank of England to leave interest rates unchanged at 0.75per cent on Thursday

The Monetary Policy Committee (MPC) decision at noon comes amid mounting political chaos over Brexit

Bank of England policymakers are set to leave interest rates unchanged at 0.75% on Thursday in their final monetary policy meeting before the º£½ÇÊÓÆµ is due to leave the EU on October 31.

The Monetary Policy Committee (MPC) decision at noon comes amid mounting political chaos over Brexit and no further clarity over the outcome by the deadline next month.

It also comes as reports suggest Bank governor Mark Carney could be asked to extend his term once more in the event of Brexit being delayed.

The Treasury Select Committee has now written to Chancellor Sajid Javid asking for an update on the timetable for naming Mr Carney's successor, given that it had previously said it would make the appointment in the autumn.

Mr Carney, who is due to step down on January 31, recently refused to give a direct answer when asked by the committee if he would extend his tenure, saying it was a "decision for the Government in terms of appointing a successor and the timing of that".

The rates announcement also follows some brighter news on the º£½ÇÊÓÆµ economy after official figures showed gross domestic product (GDP) grew by a better-than-expected 0.3% month-on-month in July.

This raised hopes that the economy will return to growth in the third quarter after a 0.2% contraction in the previous three months, which would mean the º£½ÇÊÓÆµ avoids slumping into a technical recession.

Economists said the MPC would likely want to sit tight once more at this month's meeting until there is further clarity over what will happen with Brexit on October 31.