The Bank of England is set to hold interest rates unchanged on Thursday as the economic outlook remains highly uncertain with the Theresa May government being accused of dilly-dallying on reaching a deal over Britain's exit from the European Union. The nine-member Monetary Policy Committee, led by Governor Mark Carney, is widely expected to leave the bank rate unchanged at 0.75 percent and maintain the asset purchase target at GBP 435 billion. The corporate bond purchase target is also expected to be maintained at GBP 10 billion. The policy decision announcement is due at 7 am ET. The previous change in the bank rate was a quarter-point hike in August and the rate is now at its highest level since 2009. A no-deal Brexit and the consequent chaos would tie the central bank's hands and markets are now less convinced that the Bank of England will hike interest rates next year. The UK economy is showing signs of slowing as the uncertainty regarding the country's post-Brexit trade relations remain unclear. Britain is preparing to leave the European Union on March 29, 2019. Despite surviving a recent no-confidence motion triggered within the Conservative Party and delaying a crucial vote on a Brexit deal, Prime Minister May is yet to achieve a consensus among lawmakers regarding Britain's future relationship with the EU. The prospect of a much-feared "no-deal" Brexit is increasing and recent surveys suggest that businesses are readying themselves to face what could be a most chaotic event.
Britain's five leading business groups including the BCC and the CBI, on Wednesday, urged lawmakers to prevent a disorderly "no-deal" Brexit.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.