Following months of speculation, the Bank of England has finally put up interest rates. Its Monetary Policy Committee voted unanimously in August for the 0.25% increase, voting 9-0 to put the Bank Rate up to 0.75%. In setting interest rates, the Bank is trying to meet a 2% inflation target, but in a way that helps sustain economic growth and levels of employment.
Bank of England hikes rates in August
This 954 word blog post delves into the latest interest rate decision from the Bank of England’s Monetary Policy Committee, which hiked rate from 0.5% to 0.75% during its August meeting. Written on 2nd August 2018.