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

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