'Jury out' on BoE rate hike as some commentators predict one-off move

Voted to hike in November meeting

Industry commentators have warned the Bank of England's (BoE) decision to increase interest rates for the first time in a decade may not have been the right move, as they point to ongoing Brexit uncertainties, a "stuttering" economy and sluggish wage growth, with many calling it a "one and done" hike.

Last week, a total of seven members of the Monetary Policy Committee (MPC) voted to increase rates from 0.25% to 0.5%, against two who voted to hold. The move was widely expected by markets but while the FTSE 100 climbed on the news, sterling and gilt yields fell on the back of more dovish comments in the MPC minutes and following a press conference led by BoE Governor Mark Carney. Rogoff: Rising interest rates could cause economy to 'unravel' He reiterated the BoE was "easing our foot off the accelerator", ending an era of ultra-low interest rates, and that Bank forecasts were ba...