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."

Articles on this story

Sign up to our daily newsletter