Economics
Bank of England Keeps Powder Dry as Brexit Moves Into Next Stage
- Saunders, Haskel Vote for an immediate quarter-point cut
- Central bank says it’s too early to judge impact of election
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The Bank of England signaled it will focus on the next phase of Brexit negotiations as two policy makers continued to push for an immediate interest-rate cut.
Officials said it was too early to tell whether the clearer path for the U.K.’s departure from European Union on the back of Boris Johnson’s election win will improve sentiment. They repeated that monetary policy may need to add stimulus if Brexit uncertainty remains entrenched or global growth failed to stabilize.