Fitch expects BOE to lower rates by 0.25% by year-end
|In its latest report published on Wednesday, the US ratings agency, Fitch, lowers the UK GDP outlook in wake of the Brexit vote, while adding that this may prompt the BOE to slash rates by the year-end.
Key Points:
UK to face large investment shock post-Brexit
2017 & 2018 GDP to fall to around 1%
Uncertainty to prompt firms to delay investment, hiring decisions
BOE lowering rates by 0.25% by year-end
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