BoE considered 0.5% interest rate rise

The Bank of England considered hitting homeowners and borrowers with a 0.5% interest rate rise for the first time in 10 years of independence, it was disclosed today.

The BoE’s Monetary Policy Committee (MPC) meeting two weeks ago showed that all nine members voted for a smaller 0.25% rise to 5.5%, – the fourth rate rise in 10 months.