MPC raises Bank base rate to 5%

The Bank of England’s Monetary Policy Committee voted to raise base rate by 0.25 percentage points to 5% today. Commenting, Niven said: "Investors had fully priced in the 25 basis points move. Next week's Quarterly Inflation Report will be closely scrutinised, however, as participants will look at the Bank of England's new forecasts in an attempt to establish how many future rises can be expected. Considering the strength of economic data we have recently seen and the increasingly hawkish tone from certain MPC members, many also expect another hike in the first half of next year, as the com...