Two Bank of England members surprise by voting for rate cut

Two members of the Bank of England‘s Monetary Policy Committee voted for an interest-rate cut, the central bank said Thursday. The Bank of England, in deciding to keep rates at 0.75% by a 7-to-2 margin, said it will "monitor closely the responses of companies and households to Brexit developments as well as the prospects for a recovery in global growth. If global growth fails to stabilise or if Brexit uncertainties remain entrenched, monetary policy may need to reinforce the expected recovery in UK GDP growth and inflation." The pound fell to $1.2828 immediately after the decision.

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