Bank of England raises the bank rate to 4%
Shaneille Anderson2023-02-03T15:19:50-05:00February 3, 2023 The Bank of England’s Monetary Policy Committee (MPC) at its February 1, 2023 meeting voted to increase Bank Rate by 0.5 percentage points, to 4%, as opposed to maintaining the Bank Rate at 3.5%. The MPC sets monetary policy to meet the 2% inflation target, to aid in sustaining growth and employment.