Bank Of England Lifts Key Rate For First Time In A Decade

The Bank of England raised its key rate for the first time in a decade despite Brexit hurting the economy, as inflation sticks to upward trend on a weaker pound. The Monetary Policy Committee, headed by Governor Mark Carney, decided to lift the benchmark rate by 25 basis points to 0.50 percent. This was the first rate hike since July 2007.

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