Financial markets believe that there is an even chance of interest rates reaching 6 per cent this year after it emerged yesterday that the Bank of England's vote to raise them this month was unanimous, reports The Times.
Sterling rose more than a cent against the dollar as minutes from the Bank’s Monetary Policy Committee (MPC) showed that some members had considered raising rates by a half-point – something it has never done. The move for a quarter-point rise, to 5.5 per cent, was in the end passed 9-0, with the committee’s arch-dove David Blanchflower at last ending his opposition to tighter policy. It was the first unanimous vote for higher rates since August 2004. INVESTORS IN A collapsed hedge fund are demanding $200m (£100m) in compensation from UBS, the fund's broker, claiming that the Swiss fina...
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