Slowing Growth Tests Bank of England's Resolve
Bank of England Thursday left key interest rates unchanged at 0.25%, showing a growing split within the committee of decision makers who want to raise rates to combat growing inflation.
The Bank of England Thursday left key interest rates unchanged at 0.25%, showing a growing split within the committee of decision makers who want to raise rates to combat growing inflation.
The central bank's Monetary Policy Committee voted five to three to keep the key bank rate unchanged. The BoE last changed the interest rate in August 2016 in response to the impact on the vote to leave the European Union in June 2016.
"Three members considered it appropriate to increase Bank Rate by 25 basis points. All members agreed that any increases in Bank Rate would be expected to be at a gradual pace and to a limited extent," the BoE said Thursday.
This article was written by a staff member of TheStreet.
