Bank keeps interest rates at 0.25% but decision split amid inflation fears
The Bank of England has kept interest rates on hold at 0.25%, but mounting concern over surging inflation saw one policymaker vote for a hike in the first split decision since last July.
Minutes of the meeting showed the Bank is pencilling in growth of around 0.6% in the first three months of the year, following 0.7% expansion in the previous quarter.
Inflation is predicted to rocket from 1.8% to “materially” above the Bank’s 2% over the summer, peaking at around 2.8%, according to the Bank’s forecasts.
Copyright © 2013 Rumwell Financial Services. All rights reserved | Website by Somerset Web Services
Registered Office: Rumwell Hall, Rumwell, Taunton, Somerset TA4 1EL Registered in England and Wales No. 8181095
Rumwell Financial Services Ltd is an Appointed Representative of Quilter Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority.
The guidance and advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.