The Bank of England has raised interest rates to 3.5% from 3%, the highest for more than 14 years. Six members of the Bank of England’s nine-strong Monetary Policy Committee voted to raise its interest base rate from 3% to 3.5%.
However, two members of the committee – Swati Dhingra and Silvana Tenreyro – voted in favour of holding rates at 3%.
Another member, Catherine Mann, called for a firmer 0.75 percentage point increase, at the meeting held on Wednesday.
