Bank of England hikes rates to stop price spiral

Reuters Videos
3 年前

In a surprise split decision, four of the nine Monetary Policy Committee members wanted to raise rates to 0.75% in what would have been the biggest increase in borrowing costs since the BoE became operationally independent 25 years ago.

The majority, including Governor Andrew Bailey, voted for a 0.25 percentage point increase.

The pound briefly jumped above $1.36, its highest level since January 20, and touched a two-year high against the euro.