Bank of England Hikes Rates to 0.5% Up 25 Basis Points
Seeking Alpha2022-02-03
The Bank of England raised its benchmark interest rate to 0.5% from 0.25%.
The quarter-point hike was largely expected bythe markets. But the vote was split.
Four of the nine Monetary Policy Committee members dissented, voting for a 50-basis-point hike to 0.75%.
Markets are now pulling rate expectations for the U.K. forward, with the consensus seeing rates climbing to 1% in May, according to Hammerstone Markets.
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