Bank of England unanimously vote to raise interest rates
Aug 2, 2018 20:12:19 GMT 7
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Post by mangomoney on Aug 2, 2018 20:12:19 GMT 7
Bank of England unanimously vote to raise interest rates
The Bank of England's Monetary Policy Committee has unanimously voted to increase interest rates by 25 basis points to 0.75%, the highest level in almost a decade.
Despite the weaker-than-anticipated CPI inflation at 2.4% in June, the MPC minutes said inflation would remain above target for the forecast period.
The minutes said: "The MPC continues to recognise that the economic outlook could be influenced significantly by the response of households, businesses and financial markets to developments related to the process of EU withdrawal."
Despite the weaker-than-anticipated CPI inflation at 2.4% in June, the MPC minutes said inflation would remain above target for the forecast period.
The minutes said: "The MPC continues to recognise that the economic outlook could be influenced significantly by the response of households, businesses and financial markets to developments related to the process of EU withdrawal."
