Economic news

Bank of England raises interest rates for first time in decade

The Bank of England hiked interest rates for the first time in more than 10 years on Thursday.

The Monetary Policy Committee voted 7 - 2 to raise interest rates from their historic low of 0.25 percent to 0.5 percent.

The pound slumped almost 1 percent to below $1.31, following the BoE decision.

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