Bank Of England’s Perilous High-Wire Act Continues

Bank Of England’s Perilous High-Wire Act Continues

The Bank of England raised rates for a seventh consecutive meeting on Thursday, escalating a desperate inflation fight and likely condemning the UK to an even deeper recession. Although large by recent BoE standards, the 50bps hike may underwhelm some observers and market participants. 75bps was a close call. The vote was split, to put it nicely. Five members voted for the 50bps move, three for a 75bps hike and one for a 25bps increment. As far as I can tell, there hasn't been a three-way split
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