The central bank had previously projected the economy would grow in the current financial quarter
but said it now believes Gross Domestic Product will fall 0.1%.
Nevertheless, the hike was below the expectations of the financial markets, who had predicted a 0.75 percentage point hike in line with the rate increase announced by US Federal Reserve on Wednesday. Three members – Jonathan Haskel, Catherine Mann and Dave Ramsden – voted in favour of a 0.75 percentage point rise, while on member – Swati Dhingra – called for a 0.25 percentage point increase.
In the September meeting, the MPC also said inflation is now not due to soar as high as previously expected after Government announced plans to freeze energy prices for households earlier this month.
Belgique Dernières Nouvelles, Belgique Actualités
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