Surprising financial markets worldwide, the Bank of England opted to maintain its interest rate and hinted at furthering stimulus next month, responding to the impacts of Brexit.
Policymakers opted to leave its benchmark at 0.5% record low. Although the central bank talked over possible ways to bolster economic growth, it stopped short of divulging more details.
The minutes of its July 13 meeting showed the BOE anticipates monetary policy to be alleviated in August. It added they will refer to the latest projection to gauge the extent of implementing more stimulus tools.
The material has been provided by InstaForex Company – www.instaforex.com