In the News

Bank of England comes close to raising interest rates

Geoff Riley

15th June 2017

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The MPC voted 5-3 to keep policy rates at 0.25% at the June meeting of the Monetary Policy Committee. CPI inflation has jumped to 2.9% and many economists expect it to climb above 3% in the months ahead as the effects of a weaker exchange rate feed through directly to prices. The pound jumped on news that the UK interest rate cycle may (finally) be beginning to turn.

JUST IN: Bank of England holds interest rate but 3 policy makers voted for an increase https://t.co/t83tnjQELm pic.twitter.com/f3cEU9LW5o
— Bloomberg (@business) June 15, 2017

MPC holds #BankRate at 0.25%, maintains government bond purchases at £435bn and corporate bond purchases at £10bn. pic.twitter.com/0XX5V47QZg
— Bank of England (@bankofengland) June 15, 2017

In its May inflation report the Bank of England projected CPI inflation to peak at 2.82% in Q4 2017. We're already above that: pic.twitter.com/3RP1JdicyG
— Ben Chu (@BenChu_) June 13, 2017

Pound climbs against most major currencies after division is revealed at the Bank of England https://t.co/iDzrPnSPEC pic.twitter.com/QYZzyJIwWD
— Bloomberg UK (@BloombergUK) June 15, 2017

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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Bank of England comes close to raising interest rates

Geoff Riley

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