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.”
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