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 hikes interest rates for first time in a decade

The Bank of England have voted to raise UK interest rates for the first time in a decade. Interest rates will increase by 25bps to 0.5% from 0.25%. This means the Bank have reversed the rate cut of August 2016, when it eased monetary policy to help Britain’s economy through the aftermath of the Brexit vote. The Monetary Policy Committee …