For the first time in more than 10 years the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25{193b0148ea321fadc734c77a77411744ff00523eb37bb96872a1255c49fbad99} to 0.5{193b0148ea321fadc734c77a77411744ff00523eb37bb96872a1255c49fbad99}, the first increase since July 2007. Source: First UK interest rate rise in 10 years – BBC News
The Bank of England believes that up to 75,000 jobs could be lost in financial services following Britain’s departure from the European Union.The BBC understands senior figures at the Bank are using the number as a “reasonable scenario”, particularly if there is no specific UK-EU financial services deal. Source: Bank of England believes Brexit could cost 75,000 finance jobs – BBC News
Two members of the Bank of England’s Monetary Policy Committee have spoken cautiously about the prospect of a rate rise next month. Bank of England deputy governor Dave Ramsden indicated he is not close to voting for a rate hike because there is little sign of inflation getting out of control, while new MPC member Silvana Tenreyro said she would require more data to vote for a rise on November 2. Source: Two MPC members cautious about rate rise | Mortgage Introducer
