BoE raises rates 50bp as outlook marginally brightens
Bank of England policy-makers voted for a 50 basis point rate increase after today’s (December 15) meeting of the monetary policy committee.
Six MPC members voted for the decision, which came as BoE staff predicted a slightly improved outlook for growth and marginally lower inflation. Two MPC members preferred to keep the rate on hold, and one voted for a 75bp rise. The decision brought the policy rate to 3.5%.
Voters in the majority emphasised the tight labour market, according to meeting
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