Ricky Knox, CEO at Tandem, has claimed that the Bank of England should cut interest rates to boost the economy.
This follows the Bank of England’s decision to keep the base rate unchanged at 0.75%.
“Consumers and investors are both uncertain about the British economy,” said Ricky.
“With a ‘no deal’ still on the table, it’s unlikely that this feeling will go away anytime soon.
“The Bank of England should cut the interest rate to prepare the economy for a post-Brexit world.
“The Bank of England continues to warn about the adverse effects of potential Brexit scenarios, and I would advocate a rate cut.
“The economy needs a boost from lower interest rates, but — in the meantime — savers could look to capitalise on the current rates on offer from banks.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
N26 officially launches in the US
N26 has officially launched in the USA after completing its two-month beta program...
An interview with Ed Siegel: Savers want ‘reassurance’ that their money is used to support positive social change
In an interview with Specialist Banking, Ed Siegel, chief executive at Charity Bank (pictured above), talks about the rising demand for ethical finance, and improving awareness of this particular sector...
Landlord confidence reaches seven-year low
Only 29% of landlords have positive expectations for their letting business over the next three months, according to recent research...
Shawbrook grows structured finance team
Shawbrook Bank has appointed Brook Kalkhoven (pictured above) as an associate director to its structured finance team...
OakNorth expands with new Manchester office
OakNorth has moved into a new office in Manchester at Ship Canal House...
What is a link mortgage?
Assume you have a high-net-worth (HNW) client who finds a new property they want to purchase before they have sold their main residence — what solution would you choose...
Shawbrook names new relationship director for London
Shawbrook Bank has appointed Adam Agius (pictured above) as its new relationship director for the London, Thames Valley and South region...
Wyelands Bank launches asset finance offering for renewables sector
Wyelands Bank has appointed Mark Turrell (pictured above) to its asset finance team as it launches its newly created offering for the renewables sector...
Leek United reveals mortgage rate reductions
Leek United has revealed rate reductions for two of its most popular mortgages...
Gravity selects Finastra to power banking and lending services
Gravity has selected Finastra’s Fusion Essence in the cloud solution for its end-to-end core banking capabilities...
An interview with Paul Stockwell: Islamic finance has ‘enormous opportunity’ for growth over coming years
In an interview with Specialist Banking, Paul Stockwell, chief commercial officer at Gatehouse Bank (pictured above), discusses increasing awareness of Islamic finance and opportunities in the banking world...