Bank of England raises rates to 4%

The Bank of England's Monetary Policy Committee voted on Thursday 5 February to raise the Bank's repo rate by 0.25 percentage points. In a statement the MPC highlighted the 'more broadly based' world economic recovery but judged the change was need to keep inflation on track.

The Committee reviewed monetary and economic developments in the light of its latest quarterly projections for output and inflation, to be published in the February Inflation Report.

The world economic recovery has become