Expected Bank of England interest rate cut could provide Brexit boost

The UK economy could be given a post-Brexit vote boost this week as expectations mount that the Bank of England will cut interest rates to a new historic low.

Bank governor Mark Carney has already signaled policymakers on the Monetary Policy Committee would vote to cut rates over the summer, suggesting a cut in July or August.

Economists said it was “now probable” rates will be cut on Thursday, with financial markets pricing in a reduction from 0.5% to 0.25%.