Governor of the Bank of England Mark Carney. Photo: Jonathan Bradt/POOL/AFP via Getty Images

The Bank of England held interest rates at 0.75% Thursday as governor Mark Carney, in his final policy meeting, said "the most recent signs are that global growth has stabilized."

Yes, but: The BOE cut its growth expectations for Britain to 1.1% for the next three years, down from 2019's 1.4%. The projections are England's lowest since World War II.

  • “We no longer expect much of a pick-up [in productivity growth],” Ben Broadbent, BOE deputy governor for monetary analysis, said after the meeting.

Between the lines: Markets had priced in a 50% chance the central bank would cut rates after a string of unimpressive data, including its latest GDP report showing Britain's economy shrank by 0.2% in the second quarter and grew by just 0.4% in the third.

The big picture: The decision came just a day before Britain exits the European Union. The British pound moved to over $1.31 against the dollar and government bond yield rose.

Go deeper: Boris Johnson: U.K. has crossed the Brexit finish line now bill is ratified

Go deeper

2020 could decide fate of Keystone and Dakota Access pipelines

Illustration: Sarah Grillo/Axios

Two new court actions — one by the Supreme Court and another by a federal judge — together highlight and raise the energy stakes of November's election.

Why it matters: The legal actions mean the results of the 2020 election could very well decide the fate of Keystone XL and Dakota Access, two projects at the heart of battles over fossil fuel infrastructure.

Updated 21 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 11,648,268 — Total deaths: 538,828 — Total recoveries — 6,328,930Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 2,938,750 — Total deaths: 130,310 — Total recoveries: 924,148 — Total tested: 36,032,329Map.
  3. Axios-Ipsos Coronavirus Index: Our response is becoming more polarized.
  4. Business: Rising cases pause U.S. economic recovery — Hospitals, doctors are major recipients of PPP loans.

Pompeo: Trump administration is "looking at" TikTok ban

Secretary of State Mike Pompeo told Fox News' Laura Ingraham on Monday that the Trump administration is "looking at" a ban on Chinese social media app TikTok.

Why it matters: Lawmakers have long expressed fears that the Chinese government could use TikTok to harvest reams of data from Americans — and actions against the app have recently accelerated worldwide, highlighted by India's ban.