BANK OF ENGLAND TO HOLD ON INTEREST RATE


There are signs the UK economy is weakening after Brexit. A cut in interest rates by the Bank of England was expected by some economists fearing a recession. A timely interest rate cut would make credit more affordable, help boost the economy and pre-empt a recession.

But Goldman Sachs banker and Bank of England chief Mark Carney decided to keep interest rates at 0.5% today after teasing markets about a cut. Carney says there is not enough data yet.

https://www.theguardian.com/business/live/2016/jul/14/bank-of-england-interest-rates-cut-brexit-record-low-today-business-live

When will the UK switch over to sovereign money?

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