The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favour of the rate hike. The decision was in line with market expectations and marked the first back-to-back rises since 2004. The BoE MPC voted unanimously to reduce corporate bond holdings through non-reinvestment and active sales, reaching zero holdings no earlier than towards the end of 2023
Tags BoE interest rate hike interest rates labour market UK
Check Also
XAU/USD Under Pressure as Dollar Strengthens
Gold prices are currently facing headwinds, trading below $2,600 per ounce. This decline coincides with …