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Bank of England shocks markets with close vote on rate hike

Reuters  |  LONDON 

By David Milliken and Andy BruceLONDON (Reuters) - The Bank of England shocked financial markets on Thursday when it said three of its policymakers voted for an interest rate hike, the closest it has come to raising rates since 2007, despite signs of a slowdown in Britain's economy.The unexpectedly tight 5-3 vote adds questions over monetary policy to uncertainty over Britain's political outlook since Prime Minister Theresa May failed to win a parliamentary majority in an election last week.BoE policymakers Ian McCafferty and Michael Saunders joined previous rate rise advocate Kristin Forbes ...

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First Published: Thu, June 15 2017. 22:14 IST