Article 15XDF UK's record low interest rates to continue in 2016

UK's record low interest rates to continue in 2016

by
Katie Allen
from on (#15XDF)

Service sector slowdown caused by financial market turmoil and fears of Brexit are likely to keep rates at historic low

The UK is set for another year of record low interest rates, economists have predicted, following news that the dominant services sector suffered a sharp slowdown last month.

Worries about the EU referendum, turmoil on financial markets and a faltering global recovery all took their toll on confidence among the UK's services businesses and knocked their growth to a three-year low, according to a closely watched survey.

Related: Get down from the roof, chancellor: there's a storm coming

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