The Bank of England is expected to cut its main interest rate today, with some analysts anticipating a reduction to 0.1% from 0.5%, although the majority view is for the bank rate to fall to 0.25%.
Recent data, including Markit/Cips readings on the manufacturing and service sectors, have provided early signals of the hit to the economy in the immediate period after the referendum.
The central bank’s forecasts for economic growth are also expected to be chopped – HSBC is expecting the growth forecast for next year to be cut to just 0.5% from 2.3% previously and said the BoE could also warn of a technical recession.
Click here for the full Guardian article
Click here for the full Times article (£)
