BoE hikes interest rates by 25 bps to 1.0%

The Bank of England on Thursday raised interest rates by 25 bps to 1.0%. Six of the bank’s nine rate-setters supported the 25 bps hike, though three wanted a larger 50 bps move. The rate hike was in line with expectations, but the vote split was more hawkish than expected, with a Reuters poll showing that eight had been expected to support a 25 bps hike and one support no hike.

to be updated ….