Bank of England slows rate hike pace to a half point

Bank of England slows rate hike pace to a half point

Posted on

The Bank of England on Thursday slowed the pace of interest-rate hikes down to a half point, as the U.K. central bank balances a need to fight inflation with signs the economy is decelerating.

The Bank of England increased its main interest rate to 3.5% from 3%. There were two votes for no change and one for a 75 basis point hike.

U.K. inflation…

Leave a Reply

Your email address will not be published. Required fields are marked *