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Business

Bank of England holds rates

Opening sequence

Opening sequence

Business

Bank of England holds rates

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COMING UP:Bank of England holds rates

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Transcript

00:00:00
>> The Bank of England has put off a cut in interest rates. The benchmark rate holding at a record low 0.5%. Governor Mark Carney had been expected to make a cut in a bid to cushion the economy from any Brexit fallout. Now markets bet that a rate cut could come at the Bank's August meeting.
00:00:18
Carney has warned that the financial risks of Brexit are materializing. Sterling again sliding towards three-decade lows while investors have been locked out of major commercial property funds. Data released early Thursday also showing a slump in sentiment in Britain's housing market, new buyer inquiries falling at their fastest pace since the global financial crisis.