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Kerim Derhalli, CEO and founder of invstr, said on PROACTIVEINVESTORS: “There was a train of thought among analysts that Mark Carney would follow the Fed’s lead and raise interest rates particularly as, in the UK, common perceptions of Brexit seemed to have passed from shock, to denial, to a sense that everything might just be okay.”

But, he added: “In the current climate, the Bank of England was right to hold fire.

“Some stronger-than-expected economic data in the weeks and months since the referendum vote have provided a dose of contentment, but there will continue to be many twists and turns in this story as the political and economic ramifications play out.”

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