Bank of England to keep rates steady, despite Brexit delay
Updated : May 02, 2019 06:28 AM IST
Last month, Prime Minister Theresa May secured a new Brexit deadline of October 31 after she failed to get parliament to back her deal in time for the original March 29 departure date.
Unlike the European Central Bank and the US Federal Reserve, the BoE sees a case for ongoing policy tightening and a limited and gradual rate rises. But financial markets only price in a 35 percent chance of a move this year, largely due to the Brexit uncertainty.
Britain, the world's fifth-largest economy, has seen growth stumble since the referendum decision in June 2016 to leave the EU, well before a global slowdown began last year.