ECB rate hike highlights continued divergence with BoE

Euro sign, Frankfurt

The divergence in monetary policy stance between central banks in the UK and eurozone continued to hold as the European Central Bank (ECB) on Thursday voted to raise interest rates by 25 basis points to 1.5%, its second rate hike over the last four months.

Meanwhile, the Bank of England (BoE) voted to keep its benchmark bank rate unchanged at 0.5% on Thursday after the conclusion of its two-day Monetary Policy Committee (MPC) meeting. The nine-member MPC has maintained the rate at 0.5%, a record

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