The pound dropped yesterday and is in a weak position this morning, following the Bank of England’s monetary policy decision yesterday. Surprisingly, officials voted to hold interest rates at 0.75%, despite suggestions that they may have been a rate hike in the near future.
The BoE cut its growth forecast for Britain’s economy to zero for the second quarter of this year, drawing on risks such as trade tensions and a possible no-deal Brexit.
Yesterday, Conservative MPs voted to keep Jeremy Hunt and Boris Johnson in the leadership race. The two will now take part in hustings around the country, to convince Conservative Party members to vote for them. There will also be another televised debate on the 9th of July.
