The Bank of England on Thursday raised its main interest rate by 25 basis points to 5.25%, a 14th consecutive hike as policymakers strive to rein in inflation.
The Bank of England on Thursday raised its main interest rate by 25 basis points to at 15-year high of 5.25%, a 14th consecutive hike as policymakers strive to rein in inflation.
The Monetary Policy Committee voted 6-3 in favor of the quarter-point hike, with two members preferring a second straight 50 basis point increase and one voting to keep rates unchanged. The Bank also updated its inflation forecast and now expects inflation to fall to 4.9% by the end of this year, in a quicker decline than it had anticipated in May.
People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023.on Thursday raised its main interest rate by 25 basis points to at 15-year high of 5.25%, a 14th consecutive hike as policymakers strive to rein in inflation. The Monetary Policy Committee voted 6-3 in favor of the quarter-point hike, with two members preferring a second straight 50 basis point increase and one voting to keep rates unchanged.
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