Bank of England comes closest to voting for rate hike since 2007
Three of its policymakers back raising the interest rate despite signs of a slowdown in Britain's economy
London
THE Bank of England (BOE) shocked financial markets on Thursday, saying that three of its policymakers had backed an interest rate hike, the closest it has come to raising rates since 2007, despite signs of a slowdown in Britain's economy.
Ian McCafferty and Michael Saunders joined previous rate rise advocate Kristin Forbes in voting to reverse the BOE's decision last August to cut rates to 0.25 per cent, the BOE said on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China central bank says treasury bond trading will be two-way
US wholesale inventories drop by unrevised 0.4% in March
China, Serbia chart ‘shared future’ as Xi Jinping visits Europe
World extends run of heat records for 11th straight month
SpaceX’s unit Starlink secures Indonesia operating permit
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says