BoE lifts rates despite signs of a global weakening

Bank of England and Stock Exchange
Rachael King

The Bank of England’s monetary policy committee (MPC) voted unanimously to raise interest rates today (August 2), despite concerns over wages and questions of a softening global economy.

“With domestically generated inflation building and the prospect of excess demand emerging, a modest tightening of monetary policy is now appropriate,” governor Mark Carney said at a press conference.

In its decision, the MPC voted to raise rates to 0.75% and maintain the stock of bond purchases at £445

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