Bank of England steady the ship with a 0.25% Base Rate increase
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The Bank of England’s monetary policy committee (MPC) today voted by a majority of 7–2 to increase Bank Rate by 0.25%, to 4.25%. Two members of the MPC voted to keep the rate the same at 4%.
The eleventh-hour surprise was yesterday’s inflation figures going up instead of down mainly due to the recent rise in food prices.
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