By Emily Hawkins
The next decision on interest rates will be made a week later than anticipated, following the death of Queen Elizabeth II.
The country has entered into a period of mourning after it’s longest-reigning monarch died yesterday at Balmoral Castle, aged 96.
An original meeting of the Monetary Policy Committee scheduled for 15 September has now been moved to midday at 22 September.
“In light of the period of national mourning being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of one week,” a statement said.
A flag is flying at half-mast at the Threadneedle Street building as a mark of respect, alongside many other iconic buildings in the capital.
Governor Andrew Bailey said he learned of the death of Her Majesty with “profound sadness” yesterday.
“On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family. For most of us, she is the only head of state we have ever known, and will be remembered as an inspirational figure for our country and the Commonwealth,” he added.
Current banknotes featuring the image of the Queen will continue to be legal tender, the Bank has said.
Further announcements about existing banknotes will be made following the end of the period of mourning.
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