BofE interest rates – comments

“Despite speculation and calls for monetary stimulus, today’s decision from the Monetary Policy Committee to maintain interest rates is not surprising with the Brexit deadline now upon us. With consumer prices growing by the slowest pace in three years, global headwinds are likely to continue to impact the outlook for the British economy and Dun & Bradstreet’s latest Industry Report forecasted real GDP growth of just 1.3% in 2020.

“Businesses still face uncertainty about the real impact of Brexit, but our data also shows positive signal such as an overall reduction in corporate liquidations (down 1.1% year on year) and an improvement in the percentage of B2B payments made on time (average delay down to 13.5 days, closer to the European average).”

Markus Kuger, Chief Economist at Dun & Bradstreet