After early worries following the result of the EU Referendum, the Bank of England (BoE) has reported that Britain’s economy is performing better than expected.
On Thursday 15th September, the BoE kept interest rates at 0.25% as expected, however the Bank remains on standby to reduce rates past an already historic low. Economists believe that rates could be cut to 0.1% before the end of the year.
Recovering Growth
The BoE had unoptimistic forecasts as growth fell to just 0.1% in the third quarter of the year, however it is believed that this number could actually hit 0.3% towards the end of the quarter. Growth stood at 0.6% in the second quarter of 2016, so while this isn’t a total recovery, it has improved somewhat.
The Telegraph have more information and opinion on the Bank of England’s latest announcement here.
