John From Moneycorp

Bank of England raises interest rate to 0.5%

    Recommended Posts

    Bank of England raises interest rate to 0.5%

     Mark Carney announced today that the Bank of England’s Monetary Policy Committee (MPC) voted 7-2 to raise the interest rate to 0.5%. The increase was widely anticipated, along with the result of the vote. During the hours before the 12.00 announcement, the pound fell.

     This returns the benchmark interest rate to where it had stood between March 2009 and August 2016, when the bank cut rates in the wake of the Brexit vote. The accompanying statement continued the note of caution and highlighted that any future increases would be at a gradual pace.

     

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now