News in Review Wednesday 22nd December 2021
Last week the Bank of England (BoE) became the first major central bank to raise interest rates since the onset of the pandemic. At a meeting ending on 16 December, the Bank’s nine-member Monetary Policy Committee voted by an 8-1 majority to raise rates to 0.25%, an increase of 0.15 percentage points. Speaking after announcing the decision, BoE Governor Andrew Bailey said, “We’re concerned about inflation in the medium term and we’re seeing things now that can threaten that.”
