Bank of England keeps interest rates on hold amid Brexit uncertainty

Consumer demand and business investment are likely to have suffered, says MPC

Growing worries over prospects for the world economy and the mounting fallout from Brexit uncertainty have pushed the Bank of England to keep interest rates on hold before Christmas.

Sounding the alarm that Brexit worries had intensified considerably in recent weeks to unleash heightened volatility in the financial markets, Threadneedle Street said it would wait for greater clarity next year before considering raising interest rates again.