Economics
BOE Raises Interest Rate for First Time in More Than Decade
- Cunliffe, Ramsden dissent in 7-2 vote to raise rate to 0.5%
- Drops line that rate needs to rise more than market expects
BOE's Carney Speaks About Rate Hike: Statement
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Bank of England policy makers raised interest rates for the first time in a decade, yet expressed concern for Britain’s Brexit-dented economy by indicating that another increase isn’t imminent.
Led by Governor Mark Carney, the Monetary Policy Committee voted 7-2 on Thursday to increase the benchmark rate to 0.5 percent from 0.25 percent. The minutes of their meeting underscored worries that the economy is fragile as the 2019 split with the European Union nears.