Interest rates rise
28 August 2012
The UK interest rate has risen 0.25 percentage points to 4.25 per cent, following a meeting of the Bank of England’s Monetary Policy Committee (MPC).
Interest rates last rose in February, and the decision for a further increase was made ‘because the global economic upswing has been maintained’, according to a Bank of England statement.
The MPC judged that an increase of 0.25 percentage points was necessary to keep inflation on track.
A statement by the Bank said: "In the United Kingdom, output growth...