BoE announce interest rate rise
28 August 2012
The Bank of England has increased interest rates by 0.25 per cent to 4 per cent – the first increase since November 2003.
The decision to increase rates comes after a meeting of the Monetary Policy Committee, held this morning, judged that the increase was needed to keep inflation on track.
The last change in interest rates was a rise of 0.25 percentage points to 3.75 per cent on 6 November 2003. Interest rates reached their lowest level in July last year at 3.5 per cent, the...