
The minutes to the Bank of England's last policy meeting show the rate-setters are worried about the economic and market repercussions of a British vote to leave the European Union next week.
At Thursday's meeting, in which they left interest rates on hold, the policymakers said a vote to leave could see households defer spending and companies delay investment. Echoing previous forecasts, it said the pound would like drop significantly, which would push up inflation.
In such a case, the Bank of England would face the dilemma of whether to raise interest rates to lower inflation — but hurt the economy — or leave them low, exposing the country to a rise in prices.
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