BOE Raises Interest Rate for First Time in More Than 10 Years

• November 2, 2017
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

Bank of England policy makers raised interest rates for the first time in a decade, yet showed concern for Britain’s Brexit-dented economy by indicating that another increase isn’t imminent.

Led by Governor Mark Carney, the Monetary Policy Committee voted 7-2 to increase the benchmark rate to 0.5 percent from 0.25 percent. The minutes underscored worries that the economy is fragile as the 2019 split with the European Union nears.