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Bank of England raises rates for first time in over a decade to 0.5%

Follows rising inflation and GDP

Laura Dew

02 November 2017 • 2 min read

The Bank of England's Monetary Policy Committee (MPC) has hiked interest rates from 0.25% to 0.5%, the first interest rate rise since July 2007.

A total of seven members of the committee voted for a rise, while just two members voted for rates to remain at 0.25%. At its last meeting in September, only Ian McCafferty and Michael Saunders ...

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