Published on 12/07/2019 2:46:46 PM | Source: Reuters

BoE could need to cut rates if Brexit uncertainty persists - Gertjan Vlieghe

Posted in Top Stories| #World Market #Britain #Bank of England

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LONDON - The Bank of England could potentially need to cut interest rates to boost demand if Britain faces repeatedly extended Brexit deadlines and a slowing global economy, BoE policymaker Gertjan Vlieghe said on Friday.

Speaking at Thomson Reuters, Vlieghe also said that in a 'no deal' Brexit scenario, the BoE could need to cut interest rates to a record low below the 0.25% they sank to after 2016's referendum to leave the European Union.

(Reporting by David Milliken, editing by Andy Bruce)