Base rate raised to 4%

Middle_of_the_Road

8-1 in favour of the 0.25 increase

Eight members (Andrew Bailey, Sarah Breeden, Swati Dhingra, Megan Greene, Clare Lombardelli, Huw Pill, Dave Ramsden and Alan Taylor) voted in favour of the proposition. Catherine L Mann voted against the proposition, preferring to increase Bank Rate by 0.5 percentage points, to 4.25%.

Swipe

Sounds like Old Bailey finally had his arm twisted.

slinger2

https://forums.moneysavingexpert.com/discussion/comment/82193065#Comment_82193065

Probably the markets are more interested in the inflation predictions

poseidon1

Not exactly a surprise. Markets priced in the likelihood of this week's ago.

The real question is how many more increases and over what duration. Seems America's 'forever' war with Iran holds the key to any future increases.

artyboy

https://forums.moneysavingexpert.com/discussion/comment/82193075#Comment_82193075

Goes against the usual saying heard there - Take Him Down

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/82193179#Comment_82193179

Then how do you explain them lowering the rates last year? Or on any other occasion?

sheenas

They are all Bankers and don't want to banking surcharge rise (from 3% to 6%) to impact on their bonus. I am hoping the Trump situation will solve the fuel prices issue and we get some deflation. Just up to the government to fix energy prices.

d500c2

https://forums.moneysavingexpert.com/discussion/comment/82193353#Comment_82193353

Why post something so ridiculously wrong without any effort to check it?

Catherine Mann, who voted for the 0.5% hike - professor of the practice at Brandeis University in Massachusetts, and honorary professor at the University of Manchester and the Productivity Institute

Megan Greene - Senior Fellow at the Watson Institute for International and Public Affairs at Brown University and also teaches at London Business School

Dr. Swati Dhingra - Associate Professor of Economics at the London School of Economics, and an Associate of the Centre for Economic Performance at LSE.

Alan Taylor - Professor of International and Public Affairs at Columbia University

The other members of the MPC are bankers inasmuch as they work for the Bank Of England which, I'm pretty sure, is not subject to the surcharge…

GrubbyGirl_2

Had an email from Chase at 15:15 increasing rates by 0.25%. Well done Chase

NebulaNova

I presumed my ISAs would get a boost of 0.25% today. Or am I wrong? Surely if the base rate has increased, so do savings accounts and cash ISAs?

Tim_L

Nope, not automatically, unless it's a base rate tracker