BOE Holds Rates in Carney’s Swansong as Britain Exits EU

The Bank of England kept interest rates on hold in Governor Mark Carney’s final meeting, waiting for more evidence of an economic rebound before supporting it with a cut. The pound jumped.

Policy makers voted 7-2 to keep the benchmark at 0.75%, an unchanged split from their previous meeting that belied investor expectations the decision was on a knife-edge. The committee noted that surveys of business activity have picked up “quite markedly in some cases” since Prime Minister Boris Johnson’s election victory removed much of the near-term uncertainty related to Brexit.