The Bank of England did not change the value of the base rate and stated that its further change would depend on the Brexit process


Following the results of the meeting in March, the Bank of England left the base interest rate unchanged at the level of 0.75% and stated that in the future it would consider changing the rates depending on the Brexit process. Uncertainty about the exit of the UK from the EU continues to affect trust and business activity in the country. The British regulator will closely monitor the state of the British economy during the Brexit process and can both increase and decrease the cost of borrowing. The Central Bank expects GDP growth in the first quarter by 0.3%, whereas the economic growth was previously projected at 0.2%. The March decision of the Bank of England contributed to a moderate depreciation of the pound sterling against the dollar and the euro.

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