The Bank of England raised its benchmark interest rate by a quarter point on Thursday, after a half percentage point hike last time, citing persistence of high inflation.
In a three-way split, the nine-member Monetary Policy Committee decided to lift the bank rate to 5.25 percent, the highest since early 2008. This was the fourteenth consecutive rate hike.
Six members including Governor Andrew Bailey voted for a 25 basis points hike, while Jonathan Haskel and Catherine Mann preferred to raise the rate by 50 basis points and Swati Dhingra called for no change.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.