Bank of England hikes interest rates by 25bps

MPC referenced ‘large and volatile moves in global financial markets’

Elliot Gulliver-Needham
clock • 4 min read
Bank of England hikes interest rates by 25bps

The Bank of England (BoE) has hiked interest rates by 25 basis points, as the turmoil in the banking sector clashes with the central bank's desire to bring down inflation.

In a seven/two split, the central bank chose to increase interest rates to 4.25%, with two members voting to maintain rates at 4%. The bank's Monetary Policy Committee (MPC) referenced the "larg...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Smart expands partnership with Amazon Web Services to support development of Keystone

Smart expands partnership with Amazon Web Services to support development of Keystone

Firm said partnership extension will enable ‘rapid global expansion’ through cloud infrastructure

Holly Roach
clock 30 April 2025 • 1 min read
Pensions minister confirms legislation to expand CDC to be laid in the Autumn

Pensions minister confirms legislation to expand CDC to be laid in the Autumn

DWP says ‘innovative’ funds will deliver higher incomes and lower risks for pensioners

Holly Roach
clock 30 April 2025 • 2 min read
Five pension providers retain gold financial wellness ratings

Five pension providers retain gold financial wellness ratings

Survey shows providers were awarded gold rating across several of their member offerings

Martin Richmond
clock 30 April 2025 • 2 min read
Trustpilot