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MNI STATE OF PLAY (RPT): BOE Hikes 50bps, Uncertain Outlook

(MNI) London

The BOE has hiked by 50 basis points but stressed uncertainty as the UK faces five quarters of contraction.

(Repeats article first published on August 4)

The Bank of England’s Monetary Policy Committee said on Thursday it voted eight-one in favour of its first 50-basis-point rate hike since obtaining operational independence in 1997 and unveiled plans for steady quantitative tightening even as it stressed very high levels of uncertainty as the economy heads for five consecutive quarters of contraction.

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(Repeats article first published on August 4)

The Bank of England’s Monetary Policy Committee said on Thursday it voted eight-one in favour of its first 50-basis-point rate hike since obtaining operational independence in 1997 and unveiled plans for steady quantitative tightening even as it stressed very high levels of uncertainty as the economy heads for five consecutive quarters of contraction.

Keep reading...Show less