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Policymakers at the Bank of England opted to reduce interest rates to 4.75 per cent today, down from 5 per cent. They had also been cut by 0.25 percentage points in August, which marked the first ...
LONDON (Reuters) -Bank of England policymakers voted 6-3 to keep interest rates on hold on Thursday, a bigger split than economists had predicted as officials disagreed over how to respond to a ...
The Bank of England’s nine-member Monetary Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation rising to 2.6%, further above the bank's 2% target.
The Bank of England’s decision to hike interest rates to 5 per cent yesterday means millions of borrowers are facing bills £6,000 higher than they were two years ago. ... Today the Bank’s ...
The Bank of England held interest rates steady at 4.75 per cent on Thursday in a move that could push back further rate cuts. Economists and traders now expect that February may see the next rate ...
Between 1715 and 1998, the Bank of England managed Government Stocks (which formed the bulk of the national debt): the bank was responsible for issuing stocks to stockholders, paying dividends and maintaining a register of transfers; [26] however in 1998, following the decision to grant the bank operational independence, responsibility for ...
Announced on 6 May 1997, only five days after that year's General Election, and officially given operational responsibility for setting interest rates in the Bank of England Act 1998, the committee was designed to be independent of political interference and thus to add credibility to interest rate decisions.
The official bank rate has existed in various forms since 1694 and has ranged from 0.1% to 17%. [7] The name and meaning (depositing vs lending) of this key interest rate has changed over the years. The current name, Official Bank Rate , was introduced in 2006 [ 7 ] and replaced the previous Repo Rate (repo is short for repurchase agreement ...