Bank of England raises interest rates to 0.75%
by Richard Partington Economics correspondent from on (#3W1RS)
Monetary policy committee lifts cost of borrowing to highest level since 2009
- Larry Elliott: lack of dissenting voices came as a surprise
- How will rise affect mortgages, savings and property?
The Bank of England has raised interest rates above the emergency level introduced after the financial crisis despite mounting fears about the economic impact of Britain crashing out of the EU without a deal.
Citing concern that the lowest unemployment rate since the mid-1970s risked re-igniting wage pressure, Threadneedle Street raised interest rates to 0.75% from 0.5% - the level they were dropped to in March 2009 as the economy lurched through the last recession.
Related: Interest rate rise: the lack of dissenting voices came as a surprise
Related: How will interest rate rise affect mortgages, savings and property?
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