News in Review Wednesday 9th November 2022 - DGS Chartered Financial Planners
News in Review Wednesday 9th November 2022

News in Review Wednesday 9th November 2022

At the latest meeting of the Bank of England’s Monetary Policy Committee (MPC) concluding on 3 November, Bank Rate rose by 0.75 percentage points, an eighth consecutive increase and the biggest for 33 years. Members of the MPC voted by a majority of seven to two to raise Bank Rate to 3%; of the two dissenting voices, one preferred an increase of 0.5 percentage points and the other a smaller 0.25 percentage point rise. Borrowing costs are now at their highest since 2008.