GBP – BoE holds rates Last week, the Bank of England left rates unchanged, though expectations are still for gradual rate rises. This week, BoE Governor Carney and fellow MPC members Cunliffe, Tenreyro and Saunders testify on the latest Inflation Report at the Treasury Select Committee after the BoE holds rates. The assumptions within the Inflation Report now appear to be somewhat optimistic. The Bank also said this week that “the perceived likelihood of a no-deal Brexit has risen”. The BoE still expect moderately higher interest rates in the coming years. The Conservative Party leadership contest is now down to
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