Bank of England hikes rates by 50 basis points

Follows news the UK’s inflation rate dropped to 10.7% in November

Elliot Gulliver-Needham
clock • 1 min read
Bank of England hikes rates by 50 basis points

The Bank of England has raised interest rates by 50 basis points to 3.5%, in a split decision from the central bank's Monetary Policy Committee (MPC).

The hike, announced today (15 December), came following the news the UK's inflation rate had dropped to 10.7% in November. Six MPC members voted to hike rates by 0.5%, while two members, Swati D...

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