Bank of England Raises Rates Above Crisis Lows, Signals No Rush for Next Hike

Bank of England Raises Rates Above Crisis Lows, Signals No Rush for Next Hike
Bank of England Governor Mark Carney speaks during the central bank's quarterly Inflation Report press conference in London, Britain Aug. 2, 2018. Daniel Leal-Olivas/Pool via Reuters
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LONDON—The Bank of England pushed interest rates above their financial crisis lows on Aug. 2, but signaled it was in no hurry to raise them further as Britain heads for Brexit next year with no clear plan for leaving the European Union.

The BoE’s nine rate-setters were unexpectedly unanimous in their vote to raise rates to 0.75 from 0.50 percent, the level at which they have spent most of the past decade, apart from a period after the 2016 Brexit vote when they were cut even lower.