City A.M. Shadow MPC votes 9-0 to hold rates before EU vote

The Bank of England has no option but to keep interest rates on hold until after the EU referendum, leading city economists and experts have said. The Bank’s rate-setting monetary policy committee (MPC) meets today, just one week before the 23 June vote, with all eyes on governor Mark Carney who warned last month that a vote to leave the EU could plunge the UK into recession. Brexit uncertainties pushed City A.M.’s Shadow MPC to vote unanimously to hold rates at their current level of 0.5 per cent.