The committee’s decision on the bank base rate will be announced at 12pm on 22nd September.

The Bank of England has also expressed its condolences to the Royal Family.

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“It was with profound sadness that I learned of the death of Her Majesty The Queen,” said the bank’s governor, Andrew Bailey, in a Twitter message posted on 8th September.

“On behalf of everyone at the bank, I would like to pass on my deepest condolences to the Royal Family.”