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BOE Says Brexit Uncertainty Skews Forecasts, Keeps Rate on Hold

  • Policy makers voted unanimously to keep key rate at 0.75%,
  • GDP growth forecasts for 2019 and 2020 reduced to 1.3%
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BOE's Carney on Brexit, Trade Tension, U.K. Economy: Statement
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The Bank of England said it’s less confident than usual about the outlook for the economy because of Brexit and offered little new insight into the impact of no deal.

The comments are the first from the bank since Boris Johnson became prime minster on a mission to leave the European Union on Oct. 31 with or without new trading arrangements in place. If there’s no deal, the BOE merely noted again that the pound will fall, inflation will accelerate and growth will slow.