BoE lifts rates despite signs of a global weakening
MPC votes unanimously to raise rates to 0.75%
The Bank of England’s monetary policy committee (MPC) voted unanimously to raise interest rates today (August 2), despite concerns over wages and questions of a softening global economy.
“With domestically generated inflation building and the prospect of excess demand emerging, a modest tightening of monetary policy is now appropriate,” governor Mark Carney said at a press conference.
In its decision, the MPC voted to raise rates to 0.75% and maintain the stock of bond purchases at £445
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