Monetary Policy Committee member Michael Saunders believes that the Bank of England has no plans to raise interest rates in the near future, and that is not subject to how well the Brexit process goes.

Saunders made these remarks during an interview on Thursday, adding that he hopes business investment would be on the uptick once Brexit goes off smoothly. He adds that interest rates could rise up slightly, but not anytime soon.

The latest news on the Brexit front include Theresa May being likely to continue her post, while Conservative MP Graham Brady remains hopeful that the Brexit Bill could be put to vote before MAy 23.