Bank of England raises interest rates to highest level in 14 years
Published by Michael Graves on Tue, 07/02/2023 - 8:19amThe Bank of England (BoE) has raised the base rate of interest to the highest level in 14 years.
The BoE raised interest rates for the tenth consecutive time on 2 February with a half point increase taking the base rate from 3.5% to 4%.
The decision was taken after the Monetary Policy Committee (MPC) voted by a majority of seven to two to increase the base rate by 0.5%.