Bank of England raises interest rates by further 0.5%

Two members preferred to maintain Bank Rate at 4.5%, with no-one choosing to increase by 0.25%. The Bank of England’s Monetary Policy Committee has voted 7-2 to increase Bank Rate by 0.5% to 5.00% – the 13th consecutive rise. Many industry experts had predicted a 0.5% rise after inflation held steady at 8.7% yesterday, higher than predicted, although other commentators had expected …

Bank of England raises interest rates to 4.5%

The last time the base rate was at 4.5% was in October 2008. The Bank of England’s Monetary Policy Committee has voted 7-2 to increase Bank Rate by 0.25% to 4.5% – the 12th consecutive rise. Two members preferred to maintain Bank Rate at 4.25%. The latest Bank of England figures now predict that Bank Rate will peak at around …

Bank of England raises interest rates by 0.25% to 4.25%

The latest inflation data shows that CPI inflation re-accelerated to 10.4% in February. The Bank of England’s Monetary Policy Committee has voted 7-2 to increase Bank Rate by 0.25% to 4.25% – the 11th consecutive rise. This follows the latest inflation data which shows that CPI inflation re-accelerated to 10.4% in February, and the US Federal Reserve’s decision to hike rates by …

Bank of England hold interest rate at 0.25%

Bank of England hold interest rate in September. The Bank of England have left UK interest rates unchanged this month after promising economic data. After cutting interest rates to a new record low last month, the Bank of England’s Monetary Policy Committee decided unanimously to hold interest rates at 0.25%. This policy move follows recent data which suggests the economy …