The Bank of England (BOE) increased its policy rate in line with expectations.
The Bank of England has signed a new rate hike decision.
The bank increased its policy rate by 25 basis points to 5.25 percent. This was also the expectation of economists participating in the Bloomberg survey.
With the increase in interest rates, the policy rate in England rose to the highest level in 15 years.
In the Monetary Policy Committee, it was seen that the officials were divided between three different decisions. Catherine Mann and Jonathan Haskel voted for a half-point rate hike, while Swati Dhingra favored keeping rates constant.
In the text of the decision, the direction regarding the interest path was largely preserved as in the previous texts. It was stated that if price pressures are more permanent, further tightening in monetary policy may be necessary.