Usd to gbp: Pound US Dollar exchange rate: GBP/USD flat, no-deal Brexit may force BoE to slash rates

Mr Vlieghe stated that the bank may need to slash interest rates almost all the way to down to zero in the event of a no-deal Brexit. He also added that it is not clear how long it would then take interest rates to rise once again. The BoE official stated: “On balance I think it is more likely that I would move to cut Bank Rate towards the effective lower bound of close to 0 per cent in the event of a no-deal scenario.

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