No-deal Brexit could mean near-zero interest rates, says Bank policymaker

MPC member Gertjan Vlieghe issues warning during speech in London

A key Bank of England policymaker has warned that interest rates could be slashed to almost zero if Britain’s next prime minister opts for a no-deal Brexit.

Gertjan Vlieghe, a member of the rate-setting Monetary Policy Committee, said that interest rates could be dramatically cut from the current levels of 0.75% in order to cushion the blow of leaving the EU without a transition agreement.

Related: Bank of England’s Vlieghe: no-deal Brexit could mean near zero interest rates – business live

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Read the original at Economics | The Guardian.