UK Central Bank Raises Interest Again to Cool Soaring Inflation

The Bank of England in the City of London, on Sept. 20, 2019. Yui Mok/PA

Britain’s central bank, the Bank of England (BoE), decided on Feb. 3 to raise interest rates from 0.25 percent to 0.5 percent to curb rampant inflation.

The Bank’s nine-member monetary policy committee (MPC) voted five to four in favour of the decision. The four dissenting members all voted for a bigger increase of 0.75 percent.