Bank of England Raises Interest Rates by 0.25 Percentage Points to 4.75%

The Bank of England's Monetary Policy Committee today voted to raise the Bank's repo rate by 0.25 percentage points.
Published on 05 August 2004

Output growth has been robust and business surveys point to continued expansion. Although the housing market remains buoyant, there are now signs that it is starting to ease, and the growth of consumption may be moderating. Investment and public sector consumption have both grown strongly and demand in UK export markets continues to pick up.

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