BOE Raises Key Interest Rate to 0.5% in 7-2 Vote

The Bank of England has increased interest rates by 25 basis points to 0.5%, with a 7-2 vote. The decision was influenced by inflation running above target and a less robust economy than expected. The market had anticipated this move, and the decision reflects the bank's response to these economic conditions. The discussion also covers the reasons for dissent and market speculations on future rate changes.

What was the new interest rate set by the Bank of England?

• 0.25%

• 0.5%

• 0.75%

• 1.0%

How many members voted against the interest rate hike?

• One

• Two

• Three

• Four

What was one of the main reasons for the Bank of England's decision to raise interest rates?

• Strong economic growth

• Currency devaluation

• Inflation above target

• High unemployment

Who were the two members that voted to keep the interest rate at 0.25%?

• Ramson and Cunliffe

• Johnson and Ramson

• Blanchflower and Cunliffe

• Blanchflower and Johnson

What was the expected vote split before the actual decision was announced?

• 8-1

• 7-2

• 6-3

• 5-4