Fidelity's Ian Spreadbury warns BoE rate cut could be a 'mistake'

Spreadbury (pictured), manager of the £3.5bn Fidelity Moneybuilder Income and £1.6bn Strategic Bond fund, said the only reason for the Bank of England to cut rates would be to increase borrowing or to bring currency down, as he argued the UK should be allowed to fall into recession. The Bank of England is to meet today (14 July) to make its monthly interest rate decision. It has held rates at 0.5% since 2009 and was widely expected to follow the US Federal Reserve in hiking rates this year, until the shock outcome of the EU referendum when the UK voted to 'leave'. Since then, Bank of ...