Bank of England Raises Rates by 0.25%

Image copyright: Zuma Press [via The Wall Street Journal]

The Facts

  • The Bank of England (BoE) voted 7-2 Thursday to raise interest rates another 0.25%, bringing the benchmark rate to 4.25%. It also said it expects inflation to cool faster than expected despite a surprise jump in prices last month.

  • Previously, the central bank indicated it might pause rate increases, but BoE Gov. Andrew Bailey said despite expectations that inflation will fall, "we need to see that happening."


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