Mexican Media Brands
U.K. Holds Interest Rate Steady at 0.5%
The Bank of England has elected to maintain its prime lending rate unchanged at 0.5% for now.
#economics
Share
The Bank of England has elected to maintain its prime lending rate unchanged at 0.5% for now. But the central bank appears likely to lower the rate when it meets again in early-August, BBC News reports.
Financial experts had expected a cut this week to help reverse the U.K.’s slowing economic growth. The bank also is monitoring a possible rise in inflation caused by the weakening pound sterling.
The bank’s record-low 0.5% lending rate has been in place for more than seven years. But analysts say action appears likely in August after the central bank reported a slowdown in business investments and predicted a significant near-term weakening in the British housing market.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.