Alex Guibord
The central bank's choice was in line with what analysts polled by DailyFx expected.
The current rate is the highest it has been since October 2008, when it was 4.5%. The rate was increased three times: by 50 basis points in February, by 50 in December, and by 75 in November.
According to the Bank of England's report, "the Monetary Policy Committee unanimously decided to raise the rate by 0.25 percentage points, to 4.25%." While two committee members preferred to maintain the rate at 4%, seven of them voted in favor of the increase.
In order to reach a sustainable inflation goal of 2% over the medium term, the Bank of England's monetary policy committee will modify the central bank's policy rate "as necessary."
source: dailyfx.com
The current rate is the highest it has been since October 2008, when it was 4.5%. The rate was increased three times: by 50 basis points in February, by 50 in December, and by 75 in November.
According to the Bank of England's report, "the Monetary Policy Committee unanimously decided to raise the rate by 0.25 percentage points, to 4.25%." While two committee members preferred to maintain the rate at 4%, seven of them voted in favor of the increase.
In order to reach a sustainable inflation goal of 2% over the medium term, the Bank of England's monetary policy committee will modify the central bank's policy rate "as necessary."
source: dailyfx.com
