Today: Jun 23, 2024

UK economy faces ‘downside risks’ warns Bank of England policymaker

1 min read

TLDR: The Bank of England has warned of “downside risks” to the UK economy due to a variety of factors, including Brexit uncertainty and a slowdown in global growth. Policymaker Gertjan Vlieghe said that these risks could lead to a reduction in the Bank’s central interest rate, which is currently at 0.75%. The Bank’s Monetary Policy Committee will meet next week to discuss the possibility of a rate cut.