FTSE LIVE: Bank of England leaves rates at 0.75% as it cuts growth forecast; Barclays enjoys profit surge; Fed cuts US interest rates
- Interest rates expected to be held at 0.75%, but growth forecasts cut
- Barclays sees profits in the first half of the year rise by 82%
The Bank of England’s Monetary Policy Committee, led by Mark Carney, is set to vote on whether or not to raise interest rates up from 0.75 per cent today.
The Bank will also publish its inflation report and provide the latest economic growth figures, as the prospect of a no-deal Brexit mounts.
In company news, Barclays has enjoyed its highest half-year profit for nearly a decade, while the London Stock Exchange has confirmed it plans to buy data provider Refinitiv in a £22.3billion deal.
Last night, the US central bank cut interest rates for the first time since 2008, but President Donald Trump is still calling for a bigger reduction.