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Thursday, August 2, 2018

NEWS ALERT : Bank of England Raises Rates to Highest Level Since 2009

NEWS ALERT : Bank of England Raises Rates to Highest Level Since 2009

The Bank of England raised its benchmark interest rate for only the second time in a decade, as worries over inflation trumped concerns about Brexit and a global trade dispute.

BOE officials voted unanimously to raise the policy rate to 0.75% from 0.5% following the Monetary Policy Committee’s August meeting. The increase takes the benchmark rate to its highest level since 2009.

The pound nudged higher after the decision, trading broadly flat against the dollar.

Impact : Strong
Sentiment : GOOD for GBP

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