Bank of England hikes rates for first time in a decade
Policymakers voted 7-2 to tighten borrowing costs to 0.50 percent from a BoE record
London - Muslimchronicle
The Bank of England raised its main interest rate for the first time since 2007, before the global financial crisis, it announced Thursday as it tackles Brexit-fuelled inflation.
Policymakers voted 7-2 to tighten borrowing costs to 0.50 percent from a BoE record low of 0.25 percent as a weak pound caused by Brexit uncertainty has hiked the cost of imports into Britain and in turn fueled the country's inflation.
Source:AFP
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