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Bank Rate increased to 3.00% - November 2022
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 2 November 2022, the MPC voted by a majority of 7-2 to increase Bank Rate by 0.75 percentage points, to 3%. One member preferred to increase Bank Rate by 0.5 percentage points, to 2.75%, and one member preferred to increase Bank Rate by 0.25 percentage points, to 2.5%. As set out in the accompanying November Monetary Policy Report, the MPC’s updated projections for activity and inflation describe a very challenging outlook ... (full story)
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BOE: PEAK INTEREST RATE LIKELY LOWER THAN IMPLIED BY MARKETS
— 4XInsight (@4xInsight) November 3, 2022
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BOE: THE MAJORITY OF MPS BELIEVE A 75 BASIS POINT INCREASE WOULD REDUCE THE RISK OF FUTURE, COSTLY TIGHTENING.
— Breaking Market News (@financialjuice) November 3, 2022
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BoE: Majority of MPC Favoured 75 BP Rate Hike Because of Domestic Price Pressure, Fiscal Policy
— *seven (@sevenloI) November 3, 2022
BoE: Majority of MPC Say 75 BP Increase Would Reduce Risk of Extended, Costly Tightening Later
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