3 Members of the MPC Vote for Interest Rate Rise
UK interest rates remain at 0.25%, however 3 of the 8 members of the Monetary Policy Committee voted for the rates to be increased due to inflation being at a 4 year high of 2.9%.
Ian McCafferty, Michael Saunders and Kristin Forbes all backed a rate rise with inflation much higher than the MPC target of 2%.
GBP strengthened against the Euro and the Dollar off the back of the news, with UK interest rate rises expected in the near future.
Calthan offers a full review of how interest rate rises could affect your business: