Brexit looms large as Bank of England poised to hold rates
LONDON (AP) — The Bank of England is expected to keep interest rates on hold Thursday, with investors likely to focus on what Governor Mark Carney says about the state of the Brexit negotiations.
After the decision on the bank’s main interest rate, which is currently at 0.75 percent, Carney will hold a news conference at which Britain’s exit from the European Union is likely to loom large.
During the summer, Carney said the prospect of a “no deal Brexit” had gotten “uncomfortably high.”
Carney hasn’t given his updated view since October’s summit of EU leaders failed to yield a breakthrough in the Brexit talks.
He and the British government have separately said that failure to agree on a deal will have an array of negative consequences for the British economy.