Bank of England says interest rates should be kept on hold amid Brexit uncertainty

Governor Mark Carney holds fire as he monitors business and consumer response to Britain's departure from EU

Fears that the start of Brexit negotiations will damage the economy mean that interest rates should remain at their record-low level, the governor of the Bank of England has said.

Mark Carney said he would want to see how businesses, financial markets and consumers reacted to the reality of the UK's looming departure from the EU before changing his view.