Bank of England on interest rates
The Bank of England is poised to slash interest rates to close to zero this week as fears mount over a Brexit-induced recession. Economists believe the Monetary Policy Committee (MPC) will cut rates to a new low of just 0.25pc on Thursday, while markets have priced in a 75pc chance of more easing. Bank of America Merrill Lynch believes policymakers will reduce rates to as low as 0.1pc. A cut would be the first change in interest rates since March 2009, when the base rate was slashed to 0.5pc.