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Bank of England Raises Interest Rates by 50 bp; FTSE 100 Experiences Recovery

AuthorInvesting.com UK
Published 22/06/2023, 12:06
© Reuters.

Today, all eyes were on the Bank of England and its latest interest rate decision. The institution decided to set rates at 5%, while the forecast stood at 4.75%, which is a slight increase from the previous decision that set rates at 4.50%.

This was what the markets were expecting.

For a broader article on this story, follow HERE.

Latest comments

Historically, interest rates must remain above inflation for a long period of time to tame inflation. That means we need interest rates above 9% and probably 10-11%. Of course, the speculators won't like that. But it is the only way to cure the economy. We must live within our means. The UK is a mortgage-re-mortgage bubble economy. It is also a closed economy after Brexit. Huge pain lies ahead.
Why do they/you choose to use the descriptor ‘slight’?
BoE playing catch up after Andrew 'out to lunch' Bailey had too many lunches in exchange for keeping rates low until the banks could shift their assets.
Plenty of the bank bonuses in the next 12 months. Been many years now, the banks control the country, not the politicians.
Same people, aren't they..? Bankers in charge!
Need to look a history to find they need to destroy an economy before it can be fixed, especially after pumping 500 billion in to the uk economy (covid)… the interest needs to be around 6% to bring back value to the £. As we manly import. Gas-Oil-etc, all purchased in dollars. Plus all the food-drink we import euros.. it will help reduce inflation but it takes months to feed though…Bad time to be a debt slave but it’s was all there in the small print when you were happy to sign the contracts…
When you think about it, bankers not only run failing banks but they run the country, too. The boat has sprung a leak in the hull so let's pile more weight in it
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