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Bank of England raises interest rate by 0.5%—notes on the Bank’s decision

Bank of England on Thursday decided to raise its benchmark interest rate by 0.5% to 5%, larger than the market expectation of a 0.25% increase. The decision followed Office of Nation Statistics' publication of a 8.7% CPI inflation reading for the year to May on Wednesday.

Market sees Bank of England to raise rate to 4% by May

The financial market expecting the UK policy interest rate UK will break 4% by May, more than double the current level of 1.75%. Financial Times reported.

Global Economy

Interviews

Joseph Gagnon Cover

The effects of Unconventional Exchange Rate and Monetary Policy | Q&A with Joseph Gagnon

The honorable guest for this installment is Joseph E. Gagnon, senior fellow at Peterson Institute for International Economics (PIIE). We discussed one of his latest research paper "Unconventional Monetary and Exchange Rate Policies" and the new book he coauthored with C. Fred Bergsten, "Currency Conflict and Trade Policy: A New Strategy for the United States". Gagnon also shared his view on the very popular "Global Financial Cycle" ideas.