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Bank of England comes closest to voting for rate hike since 2007

Mark Carney, 4 other members of Monetary Policy Committee voted to leave rates unchanged

Reuters  |  London 

The Bank of England shocked financial markets on Thursday, saying that three of its policymakers had backed an interest rate hike, the closest it has come to raising rates since 2007, despite signs of a slowdown in Britain's economy. Ian McCafferty and Michael Saunders joined previous rate rise advocate Kristin Forbes in voting to reverse the BoE's decision last August to cut rates to 0.25 per cent, the BoE said on Thursday. Bank of England Governor Mark Carney and four other members of the Monetary Policy Committee voted to leave rates unchanged. Sterling jumped ...

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First Published: Thu, June 15 2017. 17:22 IST