Bank of England raises rate to 4% as traders increase bets on another December hike
The Bank of England raised its benchmark interest rate by 25 basis points to 4%. Eight policymakers backed that increase, while Catherine Mann favored a larger half-point rise to 4.25%. Following the decision, interest-rate swap markets priced roughly a 50% chance of another quarter-point hike in December, up from 30% beforehand, Bloomberg reported.