Britain May Need to Cut Rates, Bank of England Chief Says
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“It now seems plausible that uncertainty could remain elevated for some time, with a greater drag on activity than we had previously projected,” Mark Carney, governor of the Bank of England, said on Thursday.CreditPool photo by Matt Dunham
LONDON — The Bank of England may be forced to cut a key interest rate this summer as it grapples with economic uncertainty created by Britain’s vote to leave the European Union, Mark Carney, the bank’s governor, said in a speech on Thursday.
The referendum result last week has led to sharp declines in the value of the pound against the dollar and has shaken the British political establishment. Separately, Standard & Poor’s lowered its rating on long-term European Union debt to AA, from AA+, citing the uncertainty after the British referendum results…
Britain May Need to Cut Rates, Bank of England Chief Says
