You are here

BOE hikes rates for the first time in a decade

It votes 7-2 to raise benchmark Bank Rate to 0.5% from 0.25%; sterling falls sharply as UK central bank says it expects only "very gradual" further increases over next three years

BT_20171103_NAHBOE_3160078.jpg
"We're going to be in exceptional circumstances for a period of time, certainly until there's clear resolution of the future relationship (with the EU), and even then, maybe longer than that." - BOE governor Mark Carney

London

THE Bank of England (BOE) raised interest rates for the first time in more than 10 years on Thursday but sterling fell sharply as the central bank said it expected only "very gradual" further increases over the next three years.

The BOE said its nine rate-setters voted 7-2

sentifi.com

Market voices on:

Powered by GET.comGetCom