BoE tightens policy after inflation surprise
The Bank of England raised its policy rate 25 basis points today (March 23), after the UK’s February inflation figure was much higher than expected.
As in other recent meetings, seven members of the monetary policy committee supported the increase, which took the rate to 4.25%. Two members dissented, preferring to leave the rate unchanged.
The BoE had expected inflation to fall in February. Instead, it rose to 10.4%, 0.6 percentage points higher than the central bank’s latest forecasts had
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Colombian and Caribbean central banks hold rates
Banrep board ignores government’s call for cut, while Jamaica and Dominican Republic also hold
RBA continues to hold rates under new governor
‘Some further tightening of monetary policy may be required,’ Bullock says
Mexico and Guatemala continue to hold rates
Inflation is still falling, but Banxico expects rates will stay high for some time
BoT unexpectedly raises policy rate by 25bp
Central bank cuts inflation and growth forecasts for 2023, but raises next year’s projections
BoJ leaders divided on wage growth and timing of tightening
July minutes show disagreement over when firms will raise wages
Ghanaian MPC holds rates while Guinea opts for 50bp rise
Addison says Ghana’s growth will outstrip IMF forecast but reserves remain extremely low
South Africa and Egypt both hold policy rates
Sarb governor says job of fighting inflation “is not yet done”
Colombian policy-makers clash over rates
Finance minister wants “very small” rate cut, but central bank board member disagrees