BoE's Vlieghe: Rate cuts more likely than hikes in the event of a no-deal Brexit

The BoE's external MPC member - Gertjan Vlieghe, speaking at Thomson Reuters in London this Friday said that the UK Q2 economic growth could be slightly negative and outlook has deteriorated since February.

Rate cuts are more likely than hikes if no-deal Brexit materializes, though would need to rise in a smooth Brexit scenario, Vlieghe added further.